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الوقائع الإخبارية
Reforms in Property Law to Boost Investment
The recent session of the House of Representatives saw the approval of the amended Real Estate Ownership Law, a move aimed at developing the real estate environment and streamlining procedures for citizens and investors. The amendments included a complete transition of the Land and Survey Department towards digital transformation to process applications and transactions efficiently. Additionally, valuation committees were granted authority to accurately and transparently determine property values. The Council of Ministers was also authorized to transfer land ownership from state assets to investment funds to support developmental projects. Incentives for investment and simplified property ownership procedures were introduced to bolster the national economy and protect everyone's rights.
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