Legislative Initiative Ahead Of Parliamentary Dissolution
Members of the Committee on Internal Affairs approved amendments to the law regulating real estate acquisition by foreign nationals. The proposal is expected to be submitted for a plenary vote before a possible parliamentary dissolution ahead of elections. Timing reflects efforts to complete the legislative process within the current parliamentary term.
Streamlined Revisions And Timely Delivery
Aristos Damianou said the committee has finalized key amendments. The revised text is expected to be circulated to members by Monday. He said the aim is to bring the proposal to a plenary vote before any dissolution. Timeline is aligned with the parliamentary schedule.
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Balancing Economic Prospects With National Security
Marinos Sizopoulos said foreign investment brings benefits but also carries risks. He noted the need to avoid excessive concentration of land ownership by non-nationals. Discussion focused on balancing investment flows with national security considerations.
Preventing Monopolistic Trends In High-Value Sectors
Lawmakers raised concerns about the potential concentration of assets in key sectors. Discussion included risks linked to companies operating through local entities. Focus extends to sectors such as hospitality, energy and healthcare. Concerns also cover acquisitions in strategically sensitive areas.
Amendments are expected to be voted on before a potential parliamentary dissolution. Outcome will shape rules governing foreign real estate investment.
