Amman, April 27 (Petra) – Sales of apartments larger than 150 square meters (SM) increased by 24% this month, compared to April last year.

The growth was due to the Cabinet's decision issued on November 12 to exempt residential properties larger than 150SM from a 50% registration fee.

In a statement to "Petra" Sunday, Department of Lands and Survey (DLS) said a total of 969 target properties were sold this month , out of a 5,755 overall apartments that exceed 150SM sold since the decision was released.

The department affirmed "success" of the decision in stimulating and strengthening the Kingdom's real estate market, which is the "primary" driver of multiple production and service sectors, and thus alleviating the citizens' burden.

Noting its efforts to update and develop its operations, the DLS said this process comes, in accordance with the "best" international practices.

The DLS added that it is currently implementing plans and strategies to enhance investment environment in the Kingdom's real estate sector, as a "key" pillar of the national economy, which affects other various related sectors.
//Petra// AG

27/04/2025 17:54:54