NREC achieves full occupancy rate in investment properties

aqaba red sea
(File photo: Jordan News)
AMMAN — Aqaba’s National Real Estate Company (NREC) announced it has attracted new global, regional, and local investments, the Jordan News Agency, Petra reported. It added that NREC achieved full occupancy rates in its leased investment properties in 2022.اضافة اعلان

During 2022, the occupancy rate in built and leased areas for investment companies, including storage and industrial buildings, reached 100 percent, it said in a press statement, Saturday.

Open spaces, it added, stood at 50 percent occupancy.

This increase in occupancy rate represents an improvement from the previous year, with leased open spaces reaching approximately 91,000sq.m. and warehouse areas increasing to about 4,000sq.m.

Land salesNREC CEO Sharif Kamal also revealed that discussions with Aqaba Development Corporation (ADC), the landowner, were held to sell lands for investment purposes in accordance with the legislation governing these purposes in the Aqaba Special Economic Zone Authority and its development arm, ADC.

NREC successfully attracted various industrial and logistical investments, with a focus on high-value-added investments in food, car armor, chemical additives, tobacco, and glass.

These investments provide national job opportunities, with Jordanian employees comprising over 70 percent of the total manpower, he added.

New investment opportunitiesRegarding future plans, Kamal said NREC is working to launch real estate investment opportunities with a "new" concept and provide a modern and attractive investment climate by providing storage spaces, industrial facilities, and modern and integrated infrastructure.

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