Reconstitution of Supreme Committee for Property Compensation Under Law 4/1978

The Council of Ministers reconstituted the Supreme Committee responsible for overseeing compensation and property return claims under Law 4 of 1978, which originally nationalized private real estate. The committee comprises representatives from Finance, State Properties, Real Estate Registration, and Urban Planning, with defined monthly remuneration ranging from 400 to 1,500 LYD depending on role.

This decision affects any foreign entity or investor holding, leasing, or seeking to acquire real estate in Libya that may have been subject to the 1978 nationalization law. The committee's reconstitution signals continued government activity on property restitution claims, creating potential title and ownership risks for current property holders or prospective buyers. Due diligence on property history pre-1978 remains critical, as compensation processes could affect existing lease agreements or ownership transfers involving formerly nationalized assets.