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Assistant to the Minister of Economy of the Economist: soon there will be housing available for all and procedures to control speculation
Said Associate Minister of Trade and Economy Ghassan Holiday economist that “the executive instructions of the Companies Ordinance leasing and Ijarah under study the cooperation of all stakeholders and will be issued in a short period” on the sidelines of the conference held at the initiative of Al Baraka Banking Group and Dar advice under the auspices of the Ministry of Economy at the Cham Palace Damascus , to discuss the application of Legislative Decree No. 88, establishing companies, leasing and renting Muslim.
In response to a question of economic, about the expected impact of causing such companies on the real estate market, especially in terms of opportunity for low income people to own homes Eid said: “It may be the subject of housing is a problem now, but after the enactment of real estate developers believe that there will be no problem, and will be housing available to all young people who want to own homes, however Decree 88 on the companies leasing and Ijarah will definitely create job opportunities for young people and SMEs in particular, and that the Government attaches special importance since it constitutes a large proportion of the Syrian economy, and real estate ownership is one way that can be pursued by banks and leasing companies in order to complete ownership of this property by the tenant, this form of investment banking, mutual benefit between the banks and the tenant, where the bank will remain possessed of the property until the payment of a $ Nodal in the form of rent and then be transferred this property to the name of the tenant and thus the benefit of the parties. Read the rest of this entry »