Iraqis top non-Jordanian investors in real estate

Iraqis topped the list of non-Jordanian investors in the real state market in 2011, according to the Department of Land and Survey (DLS). The DLS’s annual report indicated that Iraqis invested JD252 million or 56 per cent of foreign transactions at market value. Saudi nationals ranked second accounting for JD51 million, followed by Lebanese and Americans accounting for JD17.6 million and JD17 million respectively. According to the DLS’s monthly bulletin, Syrians ranked third last month in terms of investments by non-Jordanians in the real estate market as they invested JD1.6 million in February. Iraqi nationals remained at the top of foreign investors in the real estate market with investments accounting for JD26.6 million followed by Saudis at JD7.6 million. Real estate trading in February declined by 22 per cent to JD694 million from JD853 million during the same period of 2011, according to DLS figures. But revenues from real estate trading in February went up by 49 per cent reaching JD19.9 million compared to JD13 million during the same period of last year.