Condominium development, although not one of the restricted business listed in the Schedules of the FBA, is also restricted as far as foreigners are concerned. The reason is that one of the criteria of condominium registration is that the project owner must own the land and building(s) which are intended to be registered as a condominium. This then reverts back to the fact foreigners are prohibited from owning land under the Land Code, as detailed further in section 15.1.