House Approves Property Law Draft
The House of Representatives approved the proposed amendment to the Real Estate Ownership Law of 2026, aimed at enabling the Land and Survey Department to receive and provide services electronically, excluding transaction contracts, and updating the standards for appraising property values to ensure fair compensation in cases of expropriation. The law also grants the Council of Ministers the authority to transfer ownership of lands from state assets to investment funds or government companies to promote investment, along with easing restrictions on property ownership and safeguarding the rights of parties involved in judicial partition. The amendment aims to improve fairness in determining compensations and to boost real estate investments in the country.
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