The Jordan Free and Development Zones Group (JFDZ) has announced the successful resolution of 11 stalled investment agreements in the Dead Sea Development Zone. This development marks a significant step towards revitalizing the region’s growth and investment landscape.

JFDZ Chairman Sakher Ajlouni confirmed that all agreements, some of which had been inactive since 2011, have been settled amicably and legally. This initiative is part of a broader effort to reset the investment environment and prepare the area for high-impact development opportunities.

The resolution process involved a thorough review of each contract, allowing for some flexibility with investors while mutually terminating others without incurring financial losses to the state. Ajlouni highlighted that the objective is not only to resolve past issues but also to pave the way for future projects that align with national development goals, as reported by the Jordan News Agency, Petra.

In conjunction with these resolutions, the JFDZ is updating the region’s master development plan, which was originally created in 2011. The new plan will reflect recent market research, evolving investor priorities, and the Kingdom’s economic modernization agenda. It aims to promote strategic and sustainable investments while optimizing the use of available land and resources.

Ajlouni stressed that the updated plan will provide essential guidance for investors and stakeholders, balancing economic growth with environmental conservation. The final approval of this plan is anticipated soon.

Mohammad Al Wakid, Director General of the Development Zones, noted that the total value of the resolved projects amounts to approximately JD58 million. Among these projects are lease-to-own and development contracts, with two having already resumed work on-site.

He attributed the delays in project execution to inadequate financial planning by investors and ongoing mismanagement of contracts, which persisted despite generous government support, including payment flexibility and exemptions from penalties.

Currently, five major tourism projects are under construction in the area, with some already operational and others nearing completion. These projects are part of a comprehensive action plan aimed at repositioning the Dead Sea as a premier destination for both investment and tourism.

Wakid concluded that while past project failures resulted in lost time for the state, the region is now positioned for a new wave of development. With previous obstacles cleared, the focus is on attracting capable investors and transforming the Dead Sea into a model of sustainable growth.