The urban regeneration plan, "Evacuation and Construction" was initially announced as an official policy by the Ministry of Construction and Housing in 1998. An evacuation and construction site is the status of an area of land where a decision has been made to move the residents out, to destroy the residential buildings, and to construct new residential buildings in their place. The Ministry of Construction and Housing may declare an area to be an evacuation and construction site via a declaratory order, which will be in force for up to six years, as a result of which, special laws will apply with respect to the payment of improvement tax, sales tax, permit levies for ILA land, improvement levies, purchase tax and value added tax.
Our firm handles the promotion of projects from the design stages until completion of the project, in various areas including:
- The proposal of a site as a site suitable for such a plan.
- Having the owners of the properties sign a document of principles.
- Approval of the plan in the various planning committees.
- Selection of a contractor.
- Negotiations and execution of a set of agreements between the apartment owners and the entrepreneur.
- Evacuation of the apartment owners.
- Registration of a cooperative house and ascription of the apartments to the owners and to new purchasers.