The Legislative Committee of the House of Representatives unanimously approved a bill to amend the real estate registration law, postponing its application until June 30, 2023. The meeting discussed amending the Real Estate Registration and Notary Authority’s law concerning the regulation of the real estate registry, giving the Cabinet time to postpone its implementation. Postponing the law would provide an opportunity to cooperate with the parliament in proposing some ideas to stimulate registration, he added – chief among them separating the payment of real estate tax from the real estate registration procedures and the provision of facilities. Madbouly pointed out during the meeting that roughly 95 percent of real estate is unregistered, and the government hopes that all citizens will register their properties with the aim of fortifying and preserving them. Therefore, the government will work on its part to facilitate the real estate registration procedures.

Source: Egypt Independent March 02, 2021 12:33 UTC