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2007 News
March
Real Estate Companies Re-Evaluate Their Shares
Experts and analysts in the Egyptian Stock Exchange expect the shares of the real estate and housing sector to lead market activity and drive its indicators upwards.
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New Instructions for Real Estate Appraisal Procedures
The Mortgage Finance Authority issued new instructions for the organization of the appraisal process, in the view of the importance of this measure to the success of the real estate finance system and giving the investor funding commensurate with the real value of the property.
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New Facilities for Building Licenses in Cities and Villages
The Ministry of Housing and Utilities, the Authority for Technical Inspection on Construction and the International Finance Corporation, agreed to simplify construction licensing procedures as an important part of the process of revitalizing local investments and attracting regional and global investments.
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Demand For Real Estate Financing for Improvement and Finishing
Mr. Ahmed Haggag, the Vice President of the Egyptian Arab Land Bank, revealed that during the current period there is a huge demand from individuals requesting funding for the improvement and finishing of units.
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Land Prices in Egypt Exceed 150% of Real Value
Lands prices in some areas witnessed lately a sharp raise, which many claim are unjustified and illogical. These rises go back to mid-2006, which culminates with the end of the same year and the beginning of 2007.
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Establishment of Training Center for Employees in Land Registration Department to Simplify Procedures of Real Estate Registration
As a result of the Financial Services Project belief in the importance of the real estate registration system's role in the success of the mortgage financing industry, the Financial Services Project has collaborated with the Ministry of Justice and Land Registration Office and Documentation Department to establish and prepare an advanced training center
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Broadening the Base of Support for Financed Units
It has been decided to expand the base of support provided by the Mortgage Finance Guarantee Fund for residential apartments to include residential units of a total value of L.E 75,000 instead of L.E 50,000 only.
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Broadening the Base of Support for Financed Units
It has been decided to expand the base of support provided by the Mortgage Finance Guarantee Fund for residential apartments to include residential units of a total value of L.E 75,000 instead of L.E 50,000 only.
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500 Million Pounds to Start Financing the Purchase of Housing Units for Citizens
Mr. Fathy El Sebaay, President of the Housing and Development Bank and Egyptian Arab Land Bank, declared the start of granting a mortgage financing for citizens to purchase housing units.
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The Egyptian Center for Economic Studies Requests Postponing the Issuance of the Draft Tax Law on Real Estate
The Egyptian Center for Economic Studies requested the Ministry of Finance to review the methodology used in real estate inventory and appraisal.
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Arab Companies Accused of Disturbing the Property Market
A war has arisen concerning the hiring of employees in the Egyptian real estate sector, after the entrance of large Gulf companies
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Arab Companies Accused of Disturbing the Property Market
A war has arisen concerning the hiring of employees in the Egyptian real estate sector, after the entrance of large Gulf companies
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Electronic Newspaper for Egyptian Real Estate
The Ministry of Administrative Development finished its new project, known as "The Real Estate Electronic Newspaper,"
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Numerous Facilities in the New Building Law
the draft law of the construction and urban planning will greatly facilitate the process of issuing construction licenses
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"Vito" On the Real Estate Property's Tax Draft Law
The seminar last week held by the Egyptian Center for Economic Studies, on the draft law of property tax prepared by the Ministry of Finance in order to address certain shortcomings in the current law...
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Training Banks' Employees on Exercising Mortgage
The Mortgage Finance Authority organized its second training workshop this week for the training of bank's employees on mortgage activities.
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The Issuance of the New Construction Law during the Current Parliamentary Session
Mr. Ahmed Al Maghraby, Minister of Housing, Utilities and Urban Development, assured that the Consolidate Construction Law will be issued during the current session of the Peoples' assembly,
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