HM King ratifies, issues Real Estate Law 27/2017

HM King ratifies, issues Real Estate Law 27/2017

HM King ratifies, issues Real Estate Law 27/2017

(Manama) – His Majesty King Hamad bin Isa Al Khalifa ratified and issued the Real Estate Sector’s Regulatory Law 27/2017 after its approval by the Shura and Representatives Councils.

The Law-Decree 21/1976 that regulates the vocation of property dealership has been annulled as well as the provisions that regulate the ownership of apartments and tiers as per the articles from 814 to 843 of the Civil Law issued by Law-Decree 19/2001. Law 28/2014 regarding property development has been annulled.

This law supersedes any provisions that contradict the provisions of the associated law.

The Prime Minister and each of the ministers in their respective domain will implement this law which becomes effective on the first day after the elapse of six months from the date of its publication in the Official Gazette. The provisions of the first chapter of this law become effective one month after its publication.

Posted on Jul 31 2017. Filed under Business, Front, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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