Awqaf says investment operations created around 5,000 jobs

AMMAN — Director General of the Awqaf Properties Development Department Mahmoud Hadeed on Sunday said that investment operation in accordance to to Sharia (Islamic) law has resulted in the creation of around 5,000 jobs so far, the statement carried by the Jordan News Agency, Petra, said.

In 2003, the department adopted a build-operate-transfer model, given a lack of financial resources, which have since been successful, according to Hadeed.

Revenues amounted to some JD5 million, he stated, adding that returns were redirected to education, healthcare, mosques, community services and aid for the impoverished as stipulated by Sharia law.

Investors undertake contracts to lease properties for a specific period of time, usually 25 years, before the properties’ legal ownership is transferred to the department.