Parliament yesterday passed the Real Estate Management bill that seeks to repeal the Land Economy Surveyors, Valuers, Estate Agents, and Auctioneers Act (Cap. 53:08), replacing it with new legislation to regulate the practice of real estate management, real estate agents, real estate developers, and real estate transactions.
Among other provisions, the Bill establishes the office of the Commissioner for Estate Management, who shall be a public officer responsible for advising the Minister on all matters related to real estate management and activities.
This includes the development of public land in terms of plot allocation and plans for the provision of basic infrastructure such as access roads, electricity, water, street lighting, and fibre-optic cables.
Speaking after the passing of the bill Minister of Lands Deus Gumba said the passing of the bill will bring sanity to the real estate industry.
According to Gumba, the bill ensures that qualified personnel manage real estate affairs in the country.
“This is something that we have been looking for and trying to save Malawians better so that at least Malawians should not be duped in terms of real estate business. So, yes, it is very progressive in the sense that we are trying to bring sanity, where we are putting little qualifications in terms of the profession, at least, starting with the diploma.
” But We are saying even Malawians who don’t possess a diploma or a degree, but they want to engage in real estate business, they have to just as we do with other sectors. So yes, once they want to register the film, they should employ at least a professional in that sector,” he explained.
