The Department of Planning, Lands and Heritage has developed an innovative and flexible new form of land tenure, which is now in effect.
The Community Titles Act 2018 introduces a new type of tenure and subdivision — the Community Scheme — which offers an alternative to strata.
Minister for Lands, Tony Buti said the Community Scheme gave more options and enhanced flexibility to the management and staging of new mixed-use developments.
“Using a multi-tiered structure, Community Schemes can provide for tailored mix-use development options offering a more equitable approach to shared and common property,” Mr Buti said.
“Community Schemes allow a single parcel of freehold land to be subdivided into a maximum of three tiers of schemes.”
He said the schemes provided for a more seamless integration of retail, residential and commercial uses under a single overarching scheme.
“The unique multi-tier structure opens up new possibilities for what can be achieved on a single site, bringing enhanced capabilities and potential efficiencies across shared infrastructure, governance arrangements and common property ownership,” Mr Buti said.
“A fair and targeted approach to common property ownership, where people only contribute to the common property they use, is expected to hold strong appeal for future owners.”
Minister for Planning, Rita Saffioti said Community Schemes were the result of many years of work on strata reform, “so I’m pleased we have delivered on these changes”.
“The flexibility afforded by Community Schemes will change the urban landscape by giving investors, owners and tenants the choice and autonomy they seek,” Ms Saffioti said.
