Venezuela National Assembly approves new housing construction law

housing law reform Venezuelan National Assembly earthquake reconstruction real estate regulation construction sanctions

The Venezuelan National Assembly has approved the Law for the Promotion and Protection of Housing Construction, a significant reform intended to accelerate rebuilding efforts following devastating earthquakes in June. The new legislation, composed of 40 articles, replaces the former Law Against Real Estate Fraud.

Under the new framework, construction companies are required to establish trusts and adhere to strict execution schedules and contract guidelines. The Ministry of Housing and Habitat will oversee fiscalization. To ensure compliance, a unique public registry for promoters and builders has been established.

Failure to comply with regulations, such as delays in documentation or permit issues, will result in severe economic sanctions. Fines are set to range from 300 to 54,000 times the value of the country's highest-valued currency, currently the euro. The law must be signed by interim official Delcy Rodríguez to enter into force. This legislative move follows recent seismic events that left approximately 17,900 people homeless and caused nearly 6,500 deaths.

Entities

Asamblea Nacional · Central Bank of Venezuela · Delcy Rodríguez · Jorge Rodríguez · Ministerio de Vivienda y Hábitat · National Assembly of Venezuela · Pedro Infante · Venezuela

Claims

What the coverage asserts, and how many sources carry each claim.

[● 6 SOURCES] The Venezuelan National Assembly approved a reform known as the Law for the Promotion and Protection of Housing Construction. espiganoticias.net · 2001online.com · eldiario.com · monitoreamos.com · www.prensa-latina.cu
[● 8 SOURCES] The new housing law requires construction companies to create a trust and follow specific contract and execution guidelines. espiganoticias.net · eldiario.com · monitoreamos.com · notiapure.com.ve · elnuevodiario.com.do · +2 more
[● 9 SOURCES] The Venezuelan National Assembly approved the Law for the Promotion and Protection of Housing Construction. espiganoticias.net · notiapure.com.ve · 2001online.com · eldiario.com · monitoreamos.com · +3 more
[● 6 SOURCES] Recent earthquakes in Venezuela left more than 17,900 people homeless and caused nearly 6,500 deaths. eldiario.com · monitoreamos.com · notiapure.com.ve · elnuevodiario.com.do · www.entornointeligente.com
[● 7 SOURCES] The law consists of 40 articles. espiganoticias.net · eldiario.com · monitoreamos.com · www.prensa-latina.cu · notiapure.com.ve · +2 more
[● 7 SOURCES] The law must be promulgated by Delcy Rodríguez. espiganoticias.net · eldiario.com · monitoreamos.com · notiapure.com.ve · elnuevodiario.com.do · +2 more
[● 2 SOURCES] A unique registry for promoters and builders has been created. 2001online.com · www.prensa-latina.cu
[● 8 SOURCES] The new law replaces the former Law Against Real Estate Fraud. espiganoticias.net · 2001online.com · eldiario.com · monitoreamos.com · www.prensa-latina.cu · +3 more
[● 6 SOURCES] Fines range from 300 to 54,000 times the value of the highest-valued currency in the country. espiganoticias.net · eldiario.com · monitoreamos.com · notiapure.com.ve · elnuevodiario.com.do · +1 more