Egypt is currently implementing measures to develop the local real estate sector, including a recent draft law bill for the establishment of a national electronic database for real estate projects
The Egyptian Exchange’s future real estate exchange could be up and running within 4 months, says EGX chairman Ahmed El-Sheikh, noting that the exchange is finalizing the system.
According to El-Sheikh in an interview earlier today, the exchange is planning to open a notary public unit within the EGX for the ownership transfer and registration of real estate assets. A local news outlet stated that the real estate exchange’s first phase will be centered on vacant non-residential registered properties.
A real estate exchange is an investment tool for investors or entities to trade ownership of properties for another, this is usually for portfolio adjustments or location optimization. Properties or units exchanged in the exchange will be distributed into a set of shares each determined based on certain square meters.
Egypt is currently implementing measures to develop the local real estate sector, including a recent draft law bill for the establishment of a national electronic database for real estate projects.
Recognized as one of the region’s largest real estate markets, Egypt currently has more than 530 residential and mixed-use real estate projects valued at $329.57 billion, according to a report by Property Finder in September.
