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الوقائع الإخبارية
Real Estate Reforms Simplify Co-Ownership
The Kingdom has implemented fundamental legislative reforms to the Real Estate Law aimed at simplifying procedures and reducing bureaucracy, with the goal of stimulating both local and foreign investment. The amendments include lifting the minority veto in joint ownership removal cases, easing procedures for dividing properties, adopting electronic signatures and digital payment methods in place of paper transactions, as well as regulating land sales based on master plans and ensuring the rights of developers and buyers through the organization and standardization of the allocation process. Additionally, the reforms have shortened the compensation receipt period to five years, expanded the courts' authority to ensure fair compensation, and introduced measures to regulate non-Jordanian ownership of properties outside designated areas. These steps are intended to unlock more dormant properties in the market and boost the overall real estate economy.
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