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Rent Commercial in Jordan | Lamudi

Commercial Real Estate in the Kingdom of Jordan

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Jordan was established and commercially developed by the Jordanians and their intelligence in various fields, actually the most field they excelled at is the trade. Jordanians are always keen to become the owners of their own business, this is what shops, small businesses or small companies offer to them, which grow with days. Jordan is not a country of oil, its economy is developed by its people, their trades and their business, so how did the commercial real estate develop in Jordan? Where are the most expensive real estateareas?

Commercial Real Estate Rent

Anyone who intends to rent a commercial real estate in Jordan, should take some points into consideration, because renting any commercial real estate in Jordan is not only about the goods that will be brought to the shop or the decorations or the company and its requirements, but above all, the tenant will face an obstacle that prevented many others to start their projects, particularly in Amman, which is the "vacancy“, so what is meant by vacancy? And does it really cost much?

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Vacancy:

Above all, and before holding any agreement with the owner about the rental costs either monthly or annually, there must be some negotiations with the owner or the tenant about the amount required for the vacancy as the Jordanians tend to call it, the word vacancy means to pay an amount of money to the former tenant or the owner - in case the construction is new – in order to the evacuate the store, but Why would the owner receive an amount of money if the construction is new? This undoubtedly is exploitation of the tenants and the government must pursue such cases. The amount paid differs according to the site of the shop, some large stores which are located on a commercial well-known streets would cost 80 thousand dinars as a vacancy, and possibly more, this amount is absolutely considered too high, but what encourages the tenant to pay such a sum is that this amount is refundable in case he wanted to evacuate the store for a new tenant especially that the vacancy rate may increase after years.

The Monthly Rent:

Monthly rents are not the same everywhere just like the vacancy , according to the site of the commercial real estate , in Amman the prices of the commercial real estate are way more expensive than in other cities, especially in large malls such as Mecca Mall, City Mall and Taj Mall, or if the real estate is close to the streets existing in a commercial area in a wealthy neighborhoods or the streets that are known for their restaurants , such as Medina Road, Street Abdullah Ghosheh in Amman , , Rainbow Street and Avenue agencies in Sweifieh where there are famous brands selling clothes and more, some rents of these stores reach up to 26 thousand dinars per year, while others are even much higher, the same thing applies to commercial companies or banks, still this very huge raise is not weird or unusual to the Jordanian citizens.

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