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Rent Commercial in Amman | Lamudi

Amman: The Strongest Economy in Jordan

commercial building

The capital city of Jordan is economically the strongest city in Jordan, where lots of citizens and investors are inspired to set up their projects. Their projects range from establishing their companies, shops, malls, factories or any other commercial projects on main streets. Nevertheless, the investors should think thoroughly and study the project in detail before starting because construction costs are very high in Amman.

Many major projects are being carried out in the Hashemite Kingdom of Jordan. "Al-Abdali" project -which is located in the center of Amman is considered the biggest. Its main aim is to help develop the capital city and the area of the project is around 384,000 square meters.

In this project; towers, hotels, residential buildings, offices, apartments, shopping malls, entertainment and cultural centers are being built. It is expected to offer jobs opportunities in different fields and specialties. In addition to other projects taking place in Amman and other governorates like the touristic and the commercial projects that are being established in Aqaba, and many other cities.

Commercial real estate like offices and stores are usually rented and not sold, that's why shops' rents noticeably increased on the famous commercial streets and areas, and after announcing the law that allows the properties' owners to raise their old rents to suit the current living conditions of 2014; rents became a bit more high and are paid annually to the owners.

 

Renting Commercial Offices or Stores in Amman

commercial office

Before paying anything, the "vacancy" should be agreed on. This is sometimes becomes an obstacle in the commercial real estate sector. At the same time, it can be a blessing to the previous renter in case the vacancy price increased, which is considered to be a right of the previous renter. This is because he himself paid one when he first rented the store, yet it should be reasonable.

In some vital and famous commercial streets rents reached about JD 20,000 a year and maybe even more. This amount of money is enough to buy a store – not just renting it- in other places across Jordan. When buying some new real estate, one has to pay "vacancy" in spite of the fact that the word "vacancy" means to vacate and empty the shop!

In Amman, there are many vital commercial streets where you can start your project, some streets are known for their restaurants and others are known for the commercial offices there, the same goes for the rest of the governorates, so you should choose the suitable place for your project. You can also choose an area beside one of the giant shopping malls in the city like Mecca Mall, City Mall – these two are very close to each other. Also, Taj Mall in Abdoun belongs to them.

Rents are extremely high in these malls, and are determined according to the area of the shop.Markets in East Amman are witnessing a big demand in places like: Hay Nazzal, Al-Nuzha, Al- Ameer Hassan suburb, Al wehdat, and al- qwaismeh. Commercial stores are highly demanded there, consequently; rents prices increased as well.

Pictures Credit: Shutterstock
*Prices are calculated in 2014
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