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Borneo Bulletin Yearbook 2020
REAL ESTATE AND PROPERTY DEVELOPMENT TRENDS
Since 2012, Brunei Darussalam restricted the
purchase of properties through a power of
attorney or trust deed to safeguard the interest of
Bruneian citizens. However, as the government
seeks to encourage investments in the local
real estate market, permanent residents and
foreigners are eligible for land ownership in the
country for up to 99 years through a strata title.
A strata title is proof of ownership issued for
each unit of a building. Upon applying for a
strata title, applicants will receive a letter of
confirmation from the Land Department. An
applicant must then appoint a licensed surveyor
to submit a breakdown of the building section
and a recognised valuer to determine the unit’s
settlement.
The breakdown of the building is submitted to
the Survey Department, afterwhich the Land
Department will issue a certification of strata
plan. Once verified, the strata plan will be
returned to the Survey Department to certify
the strata title diagram. At the last stage of the
process, the Land Department will register the
strata unit.
Board of Valuers and Estate Agents
The qualifications and practices of valuers and
estate agents in the country are regulated by
the Brunei Darussalam Board of Valuers and
Estate Agents (BOVEA).
In December 2019, a ceremony was held for
the presentation of certificates of appointment
to BOVEA members, in addition to a handover
of certificates of registration and practice. A
memorandum of understanding was signed
between the Ministry of Development (MoD)
and Institute of Brunei Technical Education to
re-open a course in real estate.
New guidelines and information
systems
In November 2019, the Town and Country
Planning Department of MoD launched new
housing guidelines related to extension and
renovation of public housing. The department
also launched guidelines and standards for
industry development and planning of soil
density and plot ratio to optimise land use.
Additionally, the department launched two
new systems. The Planning and Development
Information System (i-PK), an online platform
for law firms to forward applications for
information on planning and development.
The Information on Land Use Planning (i-PG)