The proposed “99-Year Lease Law” aims to attract foreign investment in the Philippines by extending lease terms for foreign investors. However, concerns arise over potential impacts, such as reduced land availability for locals, increased housing costs, and risks to agriculture and food security. Critics argue it may lead to foreign dominance over land, undermining national interests. Real estate stakeholders must navigate these challenges while advocating for balanced policies to protect the rights of Filipinos and promote sustainable growth.
Tag Archives: RA 7652
The 99-Year Lease Law: Boon for Investments or Threat to Filipino Land Ownership?
On December 16, 2024, the Philippine Senate and House passed amendments to the Investors Lease Act, proposing a 99-year lease for foreign investors, replacing the original 50-year term. This change prompts concerns about constitutional violations regarding foreign land ownership. Civil society warns that such long leases could effectively bypass land ownership restrictions. Key amendments require registration of lease contracts, proof of investment, and conditions ensuring that social and economic contributions are made.
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