Hotel Investment in Jordan

Interview with Muna Batayneh, Executive Director of JK Holding

What is your personal opinion on the tourism, real estate, and construction sectors in Jordan? 

Jordan has seen a major growth in both real estate development and construction sectors, in the past decade major development projects were initiated in Amman, Aqaba and the Dead Sea, and are currently under construction. The benefits of this economic growth created not only employment opportunities but, also expanded exposures to international expertise in the various sectors related to development and construction fields. Another tangible benefit of this growth is the major influx of Business Tourism.

What is the outlook? How do you see the evolution of property prices in Jordan?

In Jordan, the escalation of land prices depends highly on demand and supply, which has fluctuated in the past years dramatically, the Iraqi influx of people into the Kingdom and the economic upturn at the time resulted in a major appreciation of Land value. In the past two years and due to the Economic worldwide recession, land values stagnated and in some cases depreciated. 

How is the market structure compared to your neighbors, such as Lebanon?

The Lebanese Tourism Industry is a more advanced sector than that of the Jordanian Tourism Industry.
Although in the past decade, Jordan has seen a substantial growth in this sector due to the business opportunities provided, as well as the development of major touristic sights.

What are some of the investment prospects Jordan offers to international investors?

Jordan offers many prospects to the international investors; the Investment laws are clear and stable.
Two major zones in the Country have been established as special economic zones, run independently by the Investment board for each zone, namely Aqaba and the Dead Sea regions. Jordan also offers diversity in the Touristic domain, be it historical tourism, religious tourism as well as geographical and nature reserve tourism;, health and business tourism has also expanded in the past decade creating a viable investment atmosphere in the country.

Can you tell us more about the company and what your strategy is?

JK Holding is a real estate development company; Established in 1978 it boosts projects mainly in the Middle East region in the various sectors of Hotel and Tourism, Housing Compounds and Resorts, Commercial, Industrial as well as in the Health sector. Our mission is too conceive, develop and build sustainable, high quality projects that give added value to its community.

Our investment in Jordan has come about, as a result of the positive Investment atmosphere the country provides as well as its political stability. The success and scale of the projects has reflected positively on the Economic growth of the country. We have successfully developed two five star resorts hotels at the Dead Sea and Aqaba, both run by the renowned Kempinski management company, Our head offices are now located and fully established in the capital Amman, from which we have launched into neighboring countries such as Iraq.

How would you define your biggest challenges? Could you become a victim of your own success?

The challenge we always face is ensuring that we maintain our goals and standards as stated in our mission statement in each individual endeavour we embark on.

How do you deal with these challenges? What kind of added –value do you offer to your investor?

We deal with the challenges by maintaining our integrity and pride in our work, which is translated into reality by our dedication to achieving sustainable, high quality projects. We have ensured our high standards and excellence by establishing several companies in related fields that work under the JK Holding umbrella, and that have a direct effort on the outcome of our development project.

What about return on Investment?

The ensured success and sustainability of the ambitious developments we undertake due to the high quality we achieved and the added-value it gives to the community and the region is what we ensure the investor.

Are you satisfied with your international exposure? What more can be done in terms of communication?

Our company is a very renowned company in the Middle East; we have gained a great deal of exposure locally, regionally and internationally though the local media as well as the International awards granted to us for our excellence.
Exposure and communication is an ongoing necessity and we always strive towards new venues of exposure.

How do you integrate corporate social responsibility in your projects? Are you also going green?

We take our social responsibilities towards the community, the country and the environment very seriously. Our large projects are well researched and are studied during the conception stage to ensure that the projects will achieve success and add- value to the community, aesthetically, economical and environmental.

What is your vision for JK Holding? What are some of your future projects?

JK Holding is expanding and is currently undergoing various projects which are in different stages of development. We have broken into new markets namely Irak. We will maintain and uphold our reputation in achieving the goals we have always aspired to.

Is sustainable tourism a cause of concern to you?

Tourism will always remain an important source of income, sustainability of tourism is not a major concern as different eras, and political atmospheres will always target a different type of tourist, whether he is a site seeing tourist a religious tourist, business tourists, or a visitor for health purposes.

Can you give a final message to international companies, investors and contractors?

To achieve success in the development and construction field, we will face many challenges, however, due to the diligent, consciences work, and the expertise of the JK Group success will never allude us. We aim to serve the countries and communities we work in.