Senate's panel approves Petra Development Region Authority legislation

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Home Jordan News Senate's panel approves Petra Development Region Authority legislation 12-03-2020 10:03 AM Ammon News - AMMONNEWS - The Senate's joint Legal and Tourism Committee passed a draft law amending the Petra Development and Tourism Region Authority (PDTRA) law, as referred from the Lower House. The bill's endorsement came during the committee's session on Thursday, chaired by Senator Kamal Nasser, attended by the its members and PDTRA's Commissioner Suleiman Farajat. The committee recommended the Upper Chamber to submit a recommendation to the government to amend the Investment Law, in case the PDTRA strikes a contract with any investor to carry out a project on PDTRA-owned lands, setting a specified time period for implementation. Under the draft law, legal persons are allowed to own immovable property in the Petra region provided that their Jordanian partners possess a stake of over 51 percent.

Home Jordan News

Senate's panel approves Petra Development Region Authority legislation

12-03-2020 10:03 AM

Ammon News - AMMONNEWS - The Senate's joint Legal and Tourism Committee passed a draft law amending the Petra Development and Tourism Region Authority (PDTRA) law, as referred from the Lower House.

The bill's endorsement came during the committee's session on Thursday, chaired by Senator Kamal Nasser, attended by the its members and PDTRA's Commissioner Suleiman Farajat.

The committee recommended the Upper Chamber to submit a recommendation to the government to amend the Investment Law, in case the PDTRA strikes a contract with any investor to carry out a project on PDTRA-owned lands, setting a specified time period for implementation.

Under the draft law, legal persons are allowed to own immovable property in the Petra region provided that their Jordanian partners possess a stake of over 51 percent.

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