19 Hrs
Source:
الوقائع الإخبارية
House debates real estate ownership bill
The House of Representatives continues to discuss the amended Real Estate Law for 2026, which aims to develop the investment environment in the real estate sector. The draft law includes measures to facilitate the removal of ownership sharedness, digitize transactions, and accelerate as well as make transparent the procedures for sales and subdivision. It also proposes easing the sale of undeveloped properties and supporting bank financing. Additionally, the draft law suggests amending the approval percentage required for property divisions from unanimous consent of all partners to approval by three-quarters of the owners, and mandates the payment of expropriation fees within five years. Its overall goal is to improve the efficiency of the real estate market and protect the rights of all parties, with a focus on simplifying property transactions and reducing the time and costs for investors and citizens.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)