Damascus-SANA
The Ministry of Public Works and Housing canceled the licenses of 35 real estate development companies that held an initial license and did not complete their procedures, and 3 companies that held a final license for not being financially compliant.
During the meeting of the Board of Directors of the General Authority for Development and Real Estate Investment, the Minister of Public Works and Housing, Eng. Suhail Abdel Latif, stressed the need for real estate development companies that obtained the final license to complete the procedures for the events of a real estate development area that include the necessary plans and provide the technical vision for starting work within a year of approval, under pain of cancellation. The license in case you did not start the business.
Minister Abdel Latif pointed out the importance of following up on companies wishing to engage in real estate development, clarifying their mechanism of action, and determining their desired goals from establishing real estate development zones.
During the meeting, the situation of companies that did not pay the annual fees after one year of their entitlement was reviewed, and the final licensing of a number of companies that met the specified conditions was approved, and the initial licensing of some companies that presented their vision to the Authority's Board of Directors.
Mada Alloush
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