Fatima Al-Halalat, the Commissioner for Sustainable Development in the Petra Region Authority, said on Sunday that the system of leasing and owning non-movable property outside the boundaries of the Petra Archaeological Reserve or other archaeological sites in the Petra Development and Tourism Region will enable citizens to invest their properties in a legal and organized manner, after having been frozen for many years.
When asked about the ownership percentage of Jordanian partners in the legal entity being more than 51% according to the system, and how to deal with Israeli nationality holders in this regard, she said in her interview with "Al-Mamlaka": "We are discussing today the legal entities and Jordanian companies that have foreign partners (...) Your question about Israelis is based on the principle of reciprocity, is a Jordanian able to own property inside Israel? Here come the procedures of the Ministry of Interior regarding reciprocal treatment."
Issued in the Official Gazette on Sunday, the system for leasing and owning non-movable property outside the boundaries of the Petra Archaeological Reserve or other archaeological sites in the Petra Development and Tourism Region.
The system allows only Jordanian legal entities to own land outside the Petra Reserve and other archaeological sites; provided that the ownership percentage of Jordanian partners in the legal entity is more than 51% of the shares, while following the principle of reciprocity for all non-Jordanian partners, and if any partner has multiple nationalities, the reciprocity condition applies to all nationalities, under the penalty of invalidation of ownership in case of non-compliance with legal and system requirements.
For ownership purposes, approval from the Council of Ministers based on a recommendation from the board of commissioners of the Petra Development and Tourism Region Authority and approval from the Ministry of Interior are required, in accordance with the master plan for the Petra Region.
In the case of leasing, it is permitted to lease non-movable property outside the Petra Reserve and archaeological sites to non-Jordanians and legal entities, provided that they comply with the principle of reciprocity, and the lease is invalid in case of non-compliance.
