Documenting real estate wealth to secure and preserve it for the citizen and the state

Engineer Ahmed Kamel, advisor to the head of the Central Agency for Public Mobilization, Statistics and Geographic Information Systems, said that the political leadership has directed to inventory and document real estate wealth in Egypt, pointing out that more than 80% of real estate wealth in Egypt is owned by individuals, persons and the private sector, and about 10 to 15% is owned by the state and the business sector.

Ahmed Kamel added, presented by the journalist Amr Khalil, on the CBC channel, documenting real estate wealth to secure and preserve it for the citizen and the state, which is the goal of the political leadership and to find tools that enable the state to properly manage real estate wealth.

Ahmed Kamel continued, In 2017, the Central Agency for Public Mobilization and Statistics was in the general census of population, housing and establishments with a comprehensive enumeration of the entire republic, which gave us an indication that 16 million and 200 thousand buildings and real estate in Egypt other than agricultural lands.

Ahmed Kamel explained that only about 15% of real estate in Egypt has regulatory numbers, pointing out that we must have a digital database for these properties.

Especially since we are in the new republic, so we thought of creating a number like the national number, and we put some determinants and rules that govern this number so that it does not share with another building.

National number for real estate

For his part, Ahmed Abdullah, a member of the Real Estate Investment Division of the Chamber of Commerce and a member of the Egyptian Real Estate Council, praised the Council of Ministers' approval of the draft law on the unified national number for real estate.

National number for real estate, will contribute to achieving knowledge-based economic growth and achieving digital transformation in accordance with Egypt's Vision 2030, in order to facilitate the inventory of real estate wealth and achieve tax justice, by preparing an accurate and comprehensive inventory of real estate.

He added that the law of the unified national number for real estate is a cornerstone in the digital transformation, and that the administrative authorities in urban communities will conduct a comprehensive survey in every location of a neighborhood, city, and region, explaining that the unified national number for real estate is similar in its use to the function of the personal national number of the citizen so that it is not be repeatable.

Guarantees the safety of private property

He also pointed out that the national number of the property will include the date of the establishment of the unit from construction to the present moment, in a way that guarantees the safety of private property and not encroaching on it, pointing out that the process of coding the units will be carried out so that the unified national number of the property begins; The governorate number, then the neighborhood, the squares within the neighborhoods, then the streets, and the building number, then the floor.

Ahmed Abdullah, a member of the Real Estate Investment Division of the Chamber of Commerce in Cairo Governorate and a member of the Egyptian Real Estate Council, confirmed that the new mechanism spares owners from exposure to problems regarding ownership, especially in light of the eternal disputes and conflicts that the courts are witnessing over the ownership of real estate.

During its meeting on Wednesday, headed by Dr. Mostafa Madbouly, the Council of Ministers approved the draft law on the unified national real estate number, which comes in light of the implementation of Egypt's Vision 2030 towards achieving digital transformation.