Investment of Endowment Properties
30 working days
Awqaf Properties Development Department.
0.006 of the actual annual investment allowance.
- Required Documents
- Persons benefiting from the service
- Related Services
Conditions for obtaining service
- The proposed investment project should not violate the laws and regulations in force in the Hashemite Kingdom of Jordan and the provisions of Islamic Sharia.
- The investor is obliged to check with the licensing authorities and bear sole responsibility for obtaining the necessary licenses and approvals. The investor shall also bear all the fees and proceeds of the zoning, expenses, taxes, licenses or approvals resulting from the investment.
- The buildings and facilities to be erected by the investor on the land plot are endowment properties by virtue of being on an endowed land, and they are a valid charitable endowment. The investor is not entitled to claim any compensation, expenses or prices at the end of the investment contract as a result of the investment contract signed therewith.
- The applicant to the investment tender must not be an employee of the Ministry of Awqaf or its directorates, based on Article 7 / A of the investment Regulation No. 11 of 2012.
- The investment must comply with all the conditions stipulated in the RFP.
- Having a Jordanian sponsor if the investor is non-Jordanian.
- The investor shall be obliged to deposit an insurance amount, according to the RFP.
- The Department shall advertise the land plot / real estate for investment in local newspapers by auction in stamped envelopes.
- The investor shall review the investment Section, fill out the approved investment offer form, receive a copy of the investment bidding Terms and all the related documents and signature, with reference to them and attach them with the bid.
- The investment Committee will open bids on time and conduct a financial analysis and economic feasibility of offers to differentiate between them and determine the best offer.
- The Council of Awqaf shall approve the best offers that achieve the interest of the endowment.
- In the event of approval, and after informing the bidder, the Department shall be visited within two weeks from the date of approval to sign the investment contract. Otherwise, the applicant shall be considered to have forfeited, thus the value of the paid insurance shall be confiscated.
- The investment contract shall be duly concluded with the investor; who shall be handed over a copy thereof.
- Payment of the first installment of the investment allowance and the fees required in the finance department at the department’s headquarters, and according to the terms of the contract before receiving the copy of the contract.
- Organizing the receipt and delivery report of the land plot / real estate property.
- Civil Status ID for all parties.
- Passport for non-Jordanians.
- Company’s registration certificate and a copy of the commercial register.
- A bank guarantee or a certified check or a receipt voucher against the paid cash amount, according to the value required for the land plot / real estate property as a security deposit to enter the investment auction.
- Proof of solvency and / or experience of the applicant, and proof of ability to implement the project at the request of the Department; before and / or after the presentation of the investment bid.
- In the case of investment to establish permanent buildings following the BOT model (Build, operate, and transfer to Awqaf), the investor shall provide an overview of the proposed project, its components, area, approximate cost, and annual investment allowance, and any other information.
- Economic feasibility study of the proposed project on the land plot, in case the Department requested this before and / or after the bidding.
- Studies, engineering sketches, specifications, bill of quantities and all documents necessary for the implementation of the project shall be submitted to take prior written approval from the Department.
Persons benefiting from the service
Public & private enterprises, whether natural or juridical persons.
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