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الوقائع الإخبارية
Revised Real Estate Law for Investment
The government has approved fundamental amendments to the Real Estate Ownership Law aimed at improving the investment environment and addressing the issue of shared ownership in properties. The modifications focus on simplifying legal and administrative procedures, easing the processes of sale and subdivision, as well as implementing comprehensive digitization of all real estate transactions. The new law also changes the approval conditions for property division to encourage market activity, while ensuring the rights of partners. It reduces the compensation period for expropriations to five years, with interest on delayed payments included. The law seeks to end property stagnation and enhance the efficient utilization of land and buildings, all while supporting transparency and making life easier for citizens.
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