New Bill to Register Unlicensed Properties in New Cities DraftedSource: www.export-egypt.com 1/3/2014, Location: Africa |
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Minister of International Cooperation and Prime Minister Deputy Ziad Bahaa El-Din announced on 02/01/2014 that a bill to officially register unlicensed properties in the new cities was drafted.
A new bill has been proposed to establish real estate offices in new cities and a third bill will be submitted to establish judicial bodies to see the cases that concern said properties. During the next week, the three bills will be submitted for discussion, reviewed, and then referred to the Cabinet, Bahaa El-Din said during a meeting attended by Minister of Housing Ibrahim Mehleb. A real estate developer’s bill will be considered next week and Egyptian Financial Supervisory Authority (EFSA) proposed amendments concerned real estate funds and the new urban communities list, Bahaa El-Din said. During the meeting, EFSA proposed amendments to mortgage funding bill, especially financial resources, loans, and new machineries. “The joint effort between the state bodies aim to promote the funding system and land registering system,” Bahaa El-Din said. |
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