ARTICLE - CO-OWNERSHIP LAW SIGNED

SIGNATURE OF THE DECREE OF THE LAW ON CO-OWNERSHIP
(Haiti Libre) -

President Michel Martelly proceeded yesterday, Friday, December 30, 2011 to the signing of the decree for the application of the law on co-ownership. This decree, that will strengthen its legal framework, is also a manifestation of the vision of the Head of State for the modernization of structures and urban infrastructure.

During the signing ceremony the Head of State declared : "[...] my vision on the issue of building in Haiti, is not limited only to mitigate the effects of the earthquake. My gaze goes much further, ... to take into account modern urban data [...] to make room for planned spaces that are developed, organized and valued. I strive to embody my concept of housing, which is based on the creation of new neighborhoods, the rehabilitation and the urbanization of existing neighborhoods, the densification of already urbanized areas and co-ownership to house the largest number of households possible. This new dynamic of change that legitimizes the law of August 13, 1984 on co-ownership, thus allows the real estate developer to undertake significant constructions in height, and address the shortage of housing supply, adjust to social and demographic developments and therefore work to the successful advent of a Haiti of owners, because home ownership as we know, is the dream of every family, because it is the first of all securities. [...]

...it is clear that we must now move towards better urban planning and appropriate techniques of sustainable construction, to put a definitive end to urban sprawl of unregulated settlement areas. Thus, to move forward in this process of strengthening the housing offer, the establishment of a business environment capable of attracting large flows of private capital is needed with force. The building in height is now a very attractive solution for viable real estate investments. The local and foreign entrepreneurs only wait for the harmonization of existing laws on co-ownership to engage in real estate development projects [...]

...published in 1984, the law organizing the system of co-ownership has been strengthened by a decree published in 2009, but has never been applied [...] today to remedy the lack of supply of housing and urban sprawl, as President of the Republic I am committed to mobilize all the necessary forces to apply these laws, to facilitate real estate development in the country within a co-ownership mode. In this sense, I will continue to take all the initiatives, so that Haiti finds the ways to modernity, of progress.

There is no doubt that a law provides all the legal provisions, administrative and financial resources to permit the sale and purchase of parts of a building, condominium or loft, managed by a joint ownership agreement. It is part of our ambition to build back better, to erect as in Latin America, megacities and major European and American cities, safer skyscrapers that are more aesthetic, more environmentally friendly, and more accessible, especially in areas constituting the economic centers of our country, with high concentrations of people and activities..."