Irbid, Sep. 15 (Petra) – Head of the Bani Obeid Municipal Committee, Manar Radaideh, announced on Monday the suspension of an amusement park project near King Abdullah Gardens due to its lack of economic feasibility.

Radaideh told the Jordan News Agency (Petra) that a review of the agreement signed with the private sector revealed it does not serve the municipality’s interests. The investor offered only JD1 million, while the land value exceeds JD12 million.

She said the anticipated returns were too modest compared with the land’s size and value, especially as it would have been leased to the investor for 20 years. The project was planned on a 16-dunum plot owned by the municipality near King Abdullah Gardens.

Radaideh stressed the municipality has no objection to re-tendering the project if new investors propose bids and conditions that reflect the land’s true value, ensuring the anticipated recreational project is implemented without undermining municipal rights and property.

She underlined that the municipality is committed to investing its assets in a way that achieves real benefits for the treasury and generates appropriate returns. It will not sign investment agreements lacking sufficient financial returns, as part of efforts to achieve sustainable development, enhance financial resources, protect public interests, and ensure efficient use of public funds.

Radaideh added the municipality seeks to attract investments aligned with local development plans and contributing to improved public services, focusing on projects that provide real added value to the community and promote economic and social development in the Bani Obeid District.

//Petra// AJ