It will definitely help growth; the restrictions at the moment are way too much. There’s an added bonus of financial growth, as it should allow smaller groups and communities to develop projects themselves.
Any change should safeguard some green spaces, while getting rid of constricting regulations. I certainly agree with the removal of red tape as long as developments stay in character with the surrounding area
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If you don’t have the right settings for growth, you run into problems. I have family in Dubai and there you can see the benefits of being able to develop freely. If done correctly, changing the rules is a great idea.