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Housing Ministry Looks to Protect Buyer Funds
The Ministry of Housing is studying the implementation of the "Guarantee Fund" system to protect the funds of property buyers, with the aim of regulating the real estate market and increasing citizens' confidence. The system relies on depositing payments into dedicated bank accounts for each project to ensure that projects are executed according to specific guidelines and to reduce the risk of default. Additionally, the ministry is working on a national property numbering project to enhance an accurate digital regulatory environment and simplify property registration procedures.
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