Initiating a Survey of Damages in Sudan’s Real Estate Sector

The Sudanese Real Estate Offices Division has begun surveying and organizing real estate offices and brokers to assess the economic damage that the real estate sector has suffered due to the war. The division has addressed several government entities and private sectors to collaborate in identifying the economic, security, and social damages.

Mohamed Salah, head of the Real Estate Offices Division at the General Union of Chambers of Commerce, stated that the Undersecretary of the Ministry of Justice has received a draft law prepared by the division three years ago. This draft, reviewed by several legal experts, was set to be finalized and discussed before the outbreak of the war.

Salah emphasized the government’s and political leadership’s commitment to enacting a law to regulate the real estate sector, describing it as a positive step for the industry. The law aims to boost investments, restructure the market, enhance the role of reputable companies and real estate offices, and foster new generations of real estate professionals.

Hassan Sarhan, Secretary General and member of the preparatory committee of the division, highlighted that the Real Estate Brokerage Regulation Law seeks to regulate brokers’ activities in line with international standards, ensuring compliance with the recommendations of the Financial Action Task Force (FATF) and national laws. The law also addresses issues such as fraud, security, and economic threats prevalent in Sudan’s real estate market.

Financial Secretary of the division, Ahmed Al-Tayeb, mentioned that “the Real Estate Regulation Law is one of the key demands of real estate brokers for years.” He stressed that the law would help organize the real estate sector, classify real estate companies and offices based on their capacity and financial strength. Al-Tayeb reiterated the division’s continuous commitment to supporting the state and following the political leadership’s vision to promote investment in the real estate sector and create a conducive environment for local and foreign capital to expand in the market, especially under the current circumstances.