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Real estate taxes stir controversy among property owners, industrialists

The topic of real estate taxes is one of the topics that have witnessed great controversy during the last period due to the refusal of the manufacturers and owners of the units to pay the taxes, calling on the government to cancel or postpone them. Hence, the Federation of Egyptian Industries and the chairperson of …

Nihal Samir

25-30% increase in real estate prices after fuel price hikes

Member of the board of directors of the Egyptian Federation for Construction and Building Contractors (EFCBC), Daker Abdellah, predicted that the real estate market will witness an increase of 25-30%  in prices, following the government’s decision to increase fuel prices. Abdellah noted that unrealistic price increases are expected and are not in line with the …

Shaimaa Al-Aees

Real estate developers use famous faces to compete for Ramadan ads market share

Real estate companies have followed the example of telecommunications companies to use Egyptian and Arab artists to promote their products this Ramadan. The companies competed by featuring stars, including singers and actors. During this time of year, especially in the holy month of Ramadan, real estate companies are often keen to intensify advertisements for their …

Shaimaa Al-Aees

EEA to offer state recovered lands to real estate developers

Ahmed Abdel Hafez, chairperson of the Egyptian Endowments Authority (EEA), said that the EEA has recovered infringed upon lands and will offer them to real estate developers next month. During Hapi Investment Conference held Sunday, Abdel Hafez noted that the EEA is seeking to develop its financial sources through contracting with those developers. Moreover, the EEA is …

Shaimaa Al-Aees

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