Saudi minister explores mining investment, knowledge transfer during Chile visit

RIYADH: Jordan’s recent move to ease residency requirements for foreign investors is set to drive capital inflows, particularly into real estate, according to industry experts.

A recent decision by the country’s Cabinet will reduce financial barriers for foreign residents and property owners seeking to renew their residency, the Jordan News Agency, also known as Petra, has reported.

Among the key amendments, the government scrapped a 10,000 Jordanian dinar ($14,100) deposit requirement for foreign property owners who have lived in Jordan for more than two years.

Meanwhile, non-property owners applying for a five-year residency will see their required deposit halved to 10,000 dinar.

The changes mark a significant shift in Jordan’s investment strategy, aligning with regional trends that leverage residency incentives to attract long-term foreign capital. The policy adjustments are expected to stimulate real estate activity, benefiting adjacent industries such as construction, legal services, and financial consultancy.

According to Petra, Ali Murad, chairman of the Jordanian-European Business Association stated that the decision is a crucial economic measure that will inject liquidity into the local market and strengthen the real estate sector.

 “Shifting residency requirements from bank deposits to property ownership will incentivize foreign investors to purchase real estate, boosting demand for construction and commercial projects,” Petra reported him saying.

Other experts believe that Jordan’s revised policy could make it a more competitive destination for international buyers looking for investment opportunities beyond traditional financial markets.

Fadi Al-Majali, chairman of the Jordanian Expat Business Association said that removing the deposit hold requirement for property owners enhances the attractiveness of real estate investment in the country, Petra reported.

The statement went on to say that Al-Majali believes  “these amendments will encourage more foreign investors to acquire properties, thereby increasing market demand and supporting the continued development of the real estate and construction sectors.”

Iraqi investors, who have historically played a key role in Jordan’s property market, are also expected to benefit.

Majid Al-Saadi, chairman of the Iraqi Business Council in Amman, welcomed the policy shift according to the Jordan News Agency, emphasizing that it allows investors to allocate more capital into Jordan’s retail, healthcare, and education sectors.

While the new measures are expected to drive investment in the near term, experts argue that Jordan could further enhance its appeal by adopting long-term residency programs similar to the UAE’s “golden visa” initiative. 

Gulf states have successfully used such programs to attract high-net-worth individuals, professionals, and entrepreneurs, creating a stable foreign investor base.

RIYADH: Saudi Arabia approved 26 mergers and acquisitions applications in February, a month-on-month surge of 62.5 percent, highlighting a competitive business climate. 

The Kingdom’s General Authority for Competition confirmed the agreements, spanning acquisitions, mergers, and joint ventures, following comprehensive market assessments to ensure fair competition. 

Acquisitions led the approvals, comprising 73 percent of the total, followed by joint ventures at 19 percent, and mergers at 8 percent, according to GAC data. 

Saudi Arabia mandates economic concentration approvals for M&A deals to prevent monopolies and market distortions. 

The rise in approvals aligns with GAC’s broader strategy to foster fair competition, combat anti-competitive practices, and enhance market efficiency, ultimately boosting investor confidence. 

Among the approved acquisition requests, Spark Education Platform secured all stakes in three educational institutes in the UAE and Bahrain. 

The mergers category included UAE-based Aurora Spirit’s consolidation with US-based Berry Global, while London-based law firm Herbert Smith Freehills merged with US-based Kramer Levin. 

In the joint ventures segment, Ajlan & Bros Mining partnered with Moxico KSA Ltd. to launch a zinc-copper project in Khnaiguiyah, southwest of Riyadh. Additionally, Abu Dhabi Future Energy Co. formed a joint venture with France’s EDF International SAS and Nesma Co. to develop a solar energy project in Madinah.  

This follows a surge in mergers and acquisitions across the country, with 202 economic concentration requests approved in 2024 — the highest on record — marking a 17.4 percent increase and underscoring the Kingdom’s efforts to enhance its competitive business environment. 

The Kingdom’s M&A momentum stands in contrast to the global downturn in deal-making. A December report from GlobalData indicated that worldwide deal volume fell 8.7 percent year on year in the first 11 months of 2024, with the Middle East and Africa region experiencing a relatively modest 5 percent decline. 

GAC continues to evaluate economic concentration requests — including mergers, acquisitions, and joint ventures — to safeguard competitive market dynamics. It also monitors various sectors for potential competition law violations, ensuring a level playing field for businesses.