PROTECT Act of 2025

The PROTECT Act of 2025 expands the review authority of the Committee on Foreign Investment in the United States (CFIUS) to cover specific real estate investments by foreign governments deemed "of concern." It requires mandatory filings for transactions involving the purchase or lease of U.S. real estate (for new construction or redevelopment) combined with establishing a U.S. business on that property, if the foreign government or its controlled entities hold a 5% or greater interest or influence over the business. This directly affects foreign entities seeking to invest in U.S. real estate for business operations tied to governments designated as security concerns under existing law. The bill amends the Defense Production Act to include these transactions under CFIUS review, requiring declarations before such deals can proceed.