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Al-Sisi ratifies amendment to law on real estate expropriation

President Abdel Fattah Al-Sisi ratified on Monday an amendment to the law on real estate expropriation for public benefit, following parliament’s approval. The amendment—which was published in the official gazette—entails that compensation will be estimated in accordance to the prices on the market at the time of implementation of the decision, plus an additional 20% …

Daily News Egypt

Cityscape Egypt draws roadmap for future of real estate

The Cityscape Egypt Conference got off to a positive start on Tuesday as experts and government authorities offered updates on major government projects, revealed ongoing progress in the real estate sector, and highlighted opportunities and challenges in the industry. The conference, which is taking place on Monday and Tuesday, is a prelude to the Cityscape …

Shaimaa Al-Aees

IMF negotiates to involve real estate developers in economic housing

Chairperson of the Real Estate Development Chamber Tarek Shoukry revealed that the International Monetary Fund (IMF) is negotiating with real estate developers to encourage involving private developers in providing economic governmental housing. On Tuesday, the IMF began negotiation meetings with key real estate developers to discuss the possibility of participating in an economic housing programme …

Shaimaa Al-Aees

Royal Gate directs EGP 150m to real estate projects in 2018

Royal Gate for Housing Development targets pumping EGP 150m worth of investments in 2018 to develop separate real estate projects in the cities of Shorouk, Madinaty, and New Cairo. The company aims to acquire plots of land in the New Administrative Capital in 2018 to start implementing the first integrated residential compound as well as …

Shaimaa Al-Aees

Will the government partner small, medium real estate companies?

As the government has recently held partnerships with some developers, such as Mountain View, Arabia Group For Real Estate Investment, and Palm Hills, many small- and medium-sized real estate companies are asking the government to participate in implementing a number of small projects by offering small plots of land to diversify investment opportunities and support …

Shaimaa Al-Aees

11m real estate units in Egypt vacant: MENA for Development Consultancy

Fathallah Fawzy, chairperson of Mena for Development Consultancy, said that vacant real estate units in Egyptreached 11m, 40% of them within the old rental system, while the percentage in cities close to Cairo does not exceed 15-20%. Meanwhile, 10 Tooba for Applied Research on the Built Environment said that there are 6.409m total vacant units …

Shaimaa Al-Aees