Cabinet approves 2023 Real Estate Ownership bill

AMMAN — The Cabinet on Wednesday approved the draft of the 2023 Real Estate Ownership Law. The bill aims to enable the Land and Survey Department to handle all transactions and services electronically, with the exception of disposal contracts.

The proposed changes also empower appraisal committees to evaluate property values based on specific criteria and standards. Moreover, the draft law grants the Cabinet the authority to transfer ownership of state-owned land parcels to public investment funds or government-owned companies and includes measures designed to encourage investment by easing property ownership restrictions. 

Furthermore, the Cabinet endorsed the formation of a National Committee for Green Hydrogen led by the Minister of Energy and Mineral Resources.

The committee will undertake tasks such as formulating a national strategy for green hydrogen, developing relevant legislation and regulations, evaluating investment opportunities and approving related procedural measures, according to the Jordan News Agency, Petra.