Legal Alert: The Physical and Land Use Planning Act, 2019 and its implication on developers.
Legal Alert: Construction and Conveyance Sector The Physical and Land Use Planning Act 2019 was assented to on 16th July 2019 and commenced on the 5th of August 2019. It repeals the Physical Planning Act, 1996. This new act introduces a timeline within which a project must be started and this will be of key concern to developers in the real estate sector. On one hand, the timeline restriction could minimise the most common risk where a project goes beyond both time and budget. However, for mixed-use developers, the different aspects and functions that need to be factored for such a project will be hard to compress into such a short period of time. Our team have put together a commentary on the key improvements to be noted by development stakeholders.
For more information on what you need to know about the new act, do get in touch with Partner Tom Onyango, Senior Associate Renice Midar or any member of our Real Estate and Conveyancing team.