The Ministry of Housing and Territorial Planning (Miviot) will be updating the regulations governing horizontal properties as announced at the Horizontal Property Congress and the inauguration of Expo PH 2024.
The current law contains 125 articles and highlights priority issues such as the Emergency Fund, which helps real estate units to face a situation that was not contemplated; and the introduction of the holding of the Assembly of Owners through technological means.
According to Frank Osorio, the Vice Minister of Territorial Planning of Miviot, more than 100 resolutions have already been issued in the first half of 2024, and thus facilitating the registration of thousands of real estate units which contributes significantly to the State’s collection.
Additionally, he also explained that the goal for Miviot is to promote the well-being and development of all communities.
In a recent report, the PH Directorate reported a collection of $103,039.94 in the first months of this second semester of 2024, for the incorporations to this housing regime.
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