Latest news with #RealEstateOwnershipLaw
Jordan Times
29-04-2025
- Business
- Jordan Times
'Lawmakers to discuss amendments to Real Estate Ownership Law with all sectors'
The Lower House will open a nationwide dialogue with all sectors on the 2025 amendments to the Real Estate Ownership Law, head of the Lower House's Committee on Economy and Investment Khaled Abu Hassan says on Monday (File photo) AMMAN — The Lower House will open a nationwide dialogue with all sectors on the 2025 amendments to the Real Estate Ownership Law, head of the Lower House's Committee on Economy and Investment Khaled Abu Hassan said on Monday. Abu Hassan said that the amendments, which sparked controversy within economic sectors and the wider pubic, are currently under review by the Lower House, according to the Jordan News Agency, Petra, reported. He said that an agreement has been reached with the government to open a dialogue with all sectors to clarify the bill's articles and address any misunderstandings. Abu Hassan stressed that the draft law would not impose any additional burden on taxpayers, nor would it introduce tax increases; instead, it would entail reductions, as pledged by the prime minister and endorsed by the Lower Chamber. He added that these discussions would continue over the coming months, and the draft law would be presented to the Lower House during the next House session. The Cabinet, during a recent session chaired by Prime Minister Jafar Hassan, endorsed draft amendments to the 2025 Real Estate Ownership Law. The Cabinet at the time said that the amendments aimed at 'streamlining' land registration procedures and 'facilitating' the dissolution of joint ownership. The amendments grant expanded authority to the Department of Lands and Survey, enabling it to deliver 'faster, more efficient services and reduce bureaucratic hurdles.' The amended bill introduces mechanisms to regulate joint ownership dissolution committees and provides guidelines for determining fair compensation in cases of public expropriation. It also addresses existing legal gaps by allowing companies, non-Jordanians, and legal entities to acquire property in specific unincorporated areas, which was previously restricted. Under the new framework, legal entities engaged in lease financing will be able to obtain property permits directly from the Department of Lands and Survey and the Ministry of Finance, eliminating the need for Cabinet approval. The move aims to 'streamline' procedures and 'enhance' investor access to Jordan's property market.
Jordan Times
13-04-2025
- Business
- Jordan Times
Cabinet approves amendments to real estate law, says they ease land ownership procedures
Agriculture projects endorsed, agreements reached with China and Morocco AMMAN — The Cabinet, during a session chaired by Prime Minister Jafar Hassan, endorsed on Sunday draft amendments to the 2025 Real Estate Ownership Law to streamline land registration procedures and facilitate the dissolution of joint ownership. The amendments grant expanded authority to the Department of Lands and Survey, enabling it to deliver faster, more efficient services and reduce bureaucratic hurdles, according to a Prime Ministry statement. The amended bill introduces mechanisms to regulate joint ownership dissolution committees and provides guidelines for determining fair compensation in cases of public expropriation. It also addresses existing legal gaps by allowing companies, non-Jordanians, and legal entities to acquire property in specific unincorporated areas, which was previously restricted. Under the new framework, legal entities engaged in lease financing will be able to obtain property permits directly from the Department of Lands and the Ministry of Finance, eliminating the need for Cabinet approval. The move aims to streamline procedures and enhance investor access to Jordan's property market. In the transport sector, the Cabinet reviewed the regulatory framework governing smart transport applications. Emphasising the importance of competitiveness and service quality, the Council of Ministers directed the Land Transport Regulatory Commission (LTRC) to electronically integrate its systems with ride-hailing platforms and update licensing conditions. New requirements will be introduced to ensure vehicle safety and enhance complaint resolution mechanisms. The government is also considering allowing ride-hailing drivers not currently enrolled in social security to opt in voluntarily, the statement said. To support the agricultural sector, the Cabinet approved three new cooperation projects with the UN Food and Agriculture Organisation (FAO) and the World Food Programme (WFP). The initiatives focus on building farmer capacity, expanding access to markets, and promoting climate-resilient agricultural practices. One project will promote sustainable agriculture and youth employment, while another will focus on preserving native plant species. A third will improve farmers' access to green financing, with particular emphasis on empowering rural communities and closing gender and youth financing gaps. Additionally, the Cabinet ratified a protocol with China on the export of processed sheepskins and signed a memorandum of understanding with the China Global Farmers' Association to boost development cooperation for Jordanian farmers. In the water sector, the government signed a memorandum of understanding with Morocco to exchange expertise in water infrastructure and management. Areas of cooperation include desalination, rainwater harvesting, wastewater reuse, and drought mitigation strategies. The Cabinet also approved a formal commitment document for the Aqaba-Amman Desalination and Conveyance Project, Jordan's largest water infrastructure initiative. Once operational, the National Carrier Project is expected to deliver 300 million cubic metres of desalinated water annually, significantly bolstering the Kingdom's water security. On the international cooperation front, the Cabinet endorsed several agreements, including a memorandum with Qatar to enhance cooperation in social development. The agreement addresses child welfare, women's rights, elderly care, and services for persons with disabilities. The Cabinet also approved several senior appointments. Mazen Shahadeh Abu Baqr was named Secretary General of the Ministry of Youth, Riyad Kharabsheh was appointed Director General of the Land Transport Regulatory Commission, and Ibrahim Rawashdeh was selected to head the National Agricultural Research Centre. All three candidates earned the highest scores in the 2024 Government Leadership Selection System.
Ammon
13-04-2025
- Business
- Ammon
Amendment allows companies, foreign investors to own property outside zoning areas
Ammon News - The Cabinet on Sunday approved amendments to the Real Estate Ownership Law aimed at streamlining property transactions. The new provisions will simplify joint ownership dissolution, expand Land Department authority to reduce bureaucracy, and establish fair compensation standards for public use property acquisitions. The amendments also create pathways for companies, legal entities, and foreign investors to own property outside zoning areas, particularly in residential complexes. Financial leasing companies will benefit from simplified approval procedures that no longer require Cabinet decisions, addressing key shortcomings identified in the 2019 law.
