The rationale behind the legislation was to safe- guard the interests of Bruneian citizens and to ensure that Brunei’s land belongs to those who have the right to own it.
However, as the government seeks to encourage more investments in the local real estate market, foreigners are now eligible to own a piece of land in Brunei through a strata title of up to 99 years with- out the need for PoA.
Some of the benefits of the new legislation include secured property ownership; outright ownership of strata titles by permanent residents and foreigners; wide-scale stimulation of the property market in Brunei; and generation of growth for property-re- lated businesses.
Head of the Registration Division of the Land Once verified, the strata plan is returned to the Department, Saharana binti Haji Ahmad, at a brief- Survey Department so that the strata title diagram ing regarding the implementation of the Strata Act can be certified, and finally strata unit registration by the Ministry of Development on February 27, can be completed by the Land Department.
2017, said: “The strata title is proof of ownership issued for each unit of a building.”
Besides attracting overseas investment in the prop- erty market, she added: “The benefits of strata titles include the proper maintenance of a building’s sur- roundings and making sure the use of land is opti- mised in line with the vision of the Land Department as well as to monitor the development of the prop- erty market in Brunei Darussalam.” Applicants for the strata title will first have to wait for a letter of confirmation from the Land Department containing terms and conditions.
The applicant must then appoint a licenced surveyor to submit a breakdown of the building section, as well as a recognised valuer to determine the unit’s entitlement. The division of the building should then be submitted to the Survey Department before the certification of the strata plan can be issued by the Land Department.
There has been a noticeable shift in living prefer- ences in Brunei over the last few years, with high- rise housing seen as the way forward in light of land available for large scale housing schemes shrinking. Commitment to the Heart of Borneo (HoB) conser- vation initiative as well as designated land for agri- cultural purposes and industrial development means that only five per cent of Brunei’s land is available for development.
To meet the growing demand for housing under the National Housing Programme (RPN) and the Landless Indigenous Citizens Housing Scheme (STKRJ), the Ministry of Development (MoD) signed a contract with Dara Construction Sdn Bhd in 2014 for the construction of Brunei’s first high-rise apart- ments under the scheme.
The development is composed of 300 units housed in 10 six-storey buildings and can accommodate up to 1,800 residents. It was built at a cost of BND55 million.
Private property developers have been quick to catch onto the growing trend too, with companies like One Riverside commissioning apartment projects across the country.
Riverside homes are highly sought after in modern cities throughout the world. In line with this growing trend, One Riverside, a 99-year strata title luxury residential and commercial development will be launched in 2018.
Situated in the heart of Gadong, facing Sungai Kedayan and Sungai Menglait, the integrated devel- opment will redefine riverside living in Brunei.
The development comprises 84 condominium units, private courtyard gardens, a riverside promenade and 18 commercial units for lease to F&B operators and retailers as well as a Supa Save supermarket.
The development will also be linked to a nearby commercial hub, Kiulap, via a pedestrian bridge.
Formerly known as the Sungai Kedayan Eco-Corridor regeneration project, Taman Mahkota Jubli Emas was initially designed as a flooding mitigation contingency and was the centrepiece of the BSB Development Masterplan announced in 2010.
Led by HOK International Asia-Pacific, a team which consisted of real estate consultancy Jones Lang LaSalle, engineering firm Meinheardt and local architecture firm OWMP International collaborated with biologists, environmental specialists and the
government to develop strategies which were func- tional and sustainable.
Through stakeholder meetings, the green flood management initiative evolved into a tourism and regeneration development.
Its design connects new and old commercial nodes which will encourage further riverside development and double as a waterfront recreational hotspot for leisure and cultural activities. The 12-hectare park was launched by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam on October 22, 2017 as part of the Golden Jubilee celebrations.
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