A Path to Licensing
The board that supervises Syria's real estate finance sector met on 29 July 2026 to review the legal framework governing mortgage lending, moving to clear the way for licensing private real estate finance companies. The session was the board's third of 2026 and was chaired by the finance minister.
The board examined Law No. 15 of 2012 and its executive instructions, with the stated aim of updating the rules so that licensing of real estate finance companies can begin.
Reviving Law No. 15
Officials stressed the need to apply modern standards to real estate finance, keep pace with growth in property investment, and encourage the development of a mortgage market that offers households more accessible financing. The board also discussed establishing a real estate guarantee fund to underpin the sector.
Proposed amendments to the rules for setting up real estate finance companies were reviewed alongside a manual of appraisal standards intended to standardize how property values are assessed.
Opening the Appraisal Profession
The board approved allowing applicants from the eastern governorates to sit the certification exam for real estate appraisers without first completing the mandatory training, on condition that they have at least two years of practical experience. The measure is meant to widen the pool of qualified appraisers in the eastern governorates.
It also accepted a request from the engineers' syndicate to admit mechanical and electrical engineering specialists to the appraiser certification exam, limiting their licenses to the valuation of industrial facilities.
Regional Coordination
The meeting reviewed ways to deepen cooperation with counterpart bodies in Arab states, with the goal of exchanging technical expertise and raising the professional standards of appraisers and sector staff.
The board draws its members from the ministries of finance, economy, industry and tourism, the central bank, the housing authority, the real estate affairs directorate, the insurance regulator, the securities commission and the Damascus exchange, along with expert members.
Building a Mortgage Market
The stated goal is to encourage the development of a mortgage market and provide more accessible financing solutions for property buyers. Reactivating the 2012 law and licensing dedicated finance companies would mark an early step toward formal housing finance in Syria.