BREAKING NEWS

Bill limiting foreign acquisition of land passes

By JPOST.COM STAFF

JUNE 9, 2010 16:43

Proposed legislation that would limit foreign parties' rights to buy real estate in Israel passed a first vote in Knesset unanimously on Wednesday.

The bill was proposed by MKs Shai Nachman, Shelly Yachimovitch, Uri Orbach and Yariv Levin with the government's support.

The proposed legislation calls for any foreign acquisition of land to be approved by the Housing Minister after consultation with the Defense Minister and the Foreign Minister.

Nachman stated in a Wednesday press release that "this is a Zionist bill that ensures there will be no enemy use of the nation's lands that were given to us by previous generations and will be preserved for future generations."

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