August 20, 2003	Wednesday	Jumadi-us-Sani 21, 1424

AMMAN: Iraqis, whose country has been racked by insecurity since the US-led war, have this year become the number one buyers of luxury villas in Jordan.

Officials here said the trend is not surprising as many of the 200,000 Iraqis who flocked to Jordan over the past decade, as well as more recent arrivals, are opting to settle down here rather than head back to their war-ravaged country.

Hafeth Sahwil, a real estate agent in Amman’s wealthy Abdoun district, said he currently had 25 Iraqi clients looking to buy the three to four storey villas that typically cost up to 600,000 dinars ($900,000).

In the first six months of 2003, Iraqis bought 70 luxury villas, according to official figures.

Their closest rivals were wealthy Kuwaitis, who bought 56, followed by Syrians with 30, Saudis, 29 and Palestinians, 21.

Jordanian press reports said recently that one of the prominent Iraqis who decided to stay in the kingdom was the country’s ambassador, who following the ouster of Saddam Hussein’s regime, bought a villa in Abdoun. Iraqis have also been encouraged by Jordan’s decision to not oblige them to go back to their country in view of the difficult situation.

Mohammed al-Bashiddy, head of a real estate company, said that Iraqis themselves were gaining a foothold in the property market and investing in development projects.—AFP