The Commercial Real Estate market in Jordan has experienced significant growth and development in recent years. This can be attributed to several factors, including customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Commercial Real Estate market in Jordan have shifted towards modern and well-equipped office spaces. With the rise of technology and the increasing importance of a comfortable and efficient working environment, businesses are seeking spaces that can accommodate their needs. This includes features such as high-speed internet, flexible layouts, and amenities like parking and security. Additionally, there is a growing demand for retail spaces that can cater to the changing consumer behavior, such as the rise of e-commerce and the need for experiential shopping. Trends in the market indicate a strong focus on sustainability and energy efficiency. With growing concerns about climate change and the need to reduce carbon emissions, developers and investors in the Commercial Real Estate market are increasingly incorporating sustainable practices into their projects. This includes the use of renewable energy sources, green building materials, and energy-efficient systems. Furthermore, there is a trend towards mixed-use developments, which combine residential, commercial, and recreational spaces in a single project. This allows for a more integrated and convenient lifestyle, as well as maximizing the use of available land. Local special circumstances in Jordan, such as its strategic location and political stability, have contributed to the development of the Commercial Real Estate market. Jordan serves as a gateway between the Middle East and Europe, making it an attractive destination for businesses looking to expand their operations. The country's stable political environment and supportive government policies have also created a favorable investment climate, attracting both domestic and international investors. Underlying macroeconomic factors have played a crucial role in the growth of the Commercial Real Estate market in Jordan. The country has witnessed steady economic growth, driven by sectors such as tourism, information technology, and manufacturing. This has resulted in increased demand for commercial spaces to accommodate the expanding businesses. Additionally, low interest rates and favorable financing options have made it easier for investors to enter the market and undertake new projects. In conclusion, the Commercial Real Estate market in Jordan is experiencing significant development and growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and well-equipped office spaces, the focus on sustainability and energy efficiency, the strategic location and political stability of the country, and the steady economic growth are all contributing to the positive trajectory of the market.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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