Petra region welcomes multiple investment initiatives

AMMAN — The Petra Development and Tourism Region Authority (PDTRA) on Thursday announced the approval of immediate construction permits, investment approvals and unique tax identification numbers for five upcoming hotel establishments that are expected to commence construction in the area this year.

PDTRA Chief Commissioner and Head of the PDTRA Exemptions and Investment Incentives Committee Suleiman Farajat, in a statement, said that the decision to grant these permits comes in response to an increasing demand for accommodation in the Petra region, as recent indicators show that by the end of June, Petra welcomed over 700,000 visitors. 

The new  hotels will offer at least 500 hotel rooms of various types, Farajat added. 

Farajat highlighted the authority's commitment to complying with the Investment Environment Law and regulations issued by the Ministry of Investment, authorising PDTRA to implement incentives and investment benefits within the Petra Development and Tourism Region. 

In addition to the hotel projects, Farajat revealed that several other investment initiatives are currently in progress, with some reaching the final contracting stages.

These projects encompass various attractions such as a fixed balloon project, virtual reality, adventure and challenge fields, aerial trams and eco-tourism village projects.

The authority's focus on fostering business opportunities through public-private partnerships aligns with PDTRA’s strategic plan, based on the objectives of the Economic Modernisation Vision (2022-2033), which stimulates both local and international investments through the creation of an appealing investment environment.

Hassan Al Lawama, the PDTRA director of investment, said that the total investment volume for these projects is approximately JD80 million. Once implemented, the estimated value of exemptions and incentives for the entire project lifecycle, including construction, development, equipment and operation, is expected to reach JD13 million. 

The authority closely collaborates with the Income and Sales Tax Department and the Jordan Customs Department, to facilitate the process.