Egypt is preparing to launch the real estate stock exchange within a few months

The government intends to launch the real estate stock exchange during the first half of 2024, with the aim of stimulating real estate investment by enabling investors and real estate companies to buy and sell shares in real estate assets or invest in real estate projects by converting the real estate asset into real estate shares equivalent to metric units. To launch the real estate stock exchange, Next steps:

According to Ahmed Al-Sheikh, Chairman of the Egyptian Stock Exchange, Egypt plans to launch the real estate stock exchange within A few months, after completing the required legislation, which will contribute to revitalizing the real estate market in the country.

The Egyptian Stock Exchange has completed “the basic regulations for launching the real estate stock exchange, and the system of settlement and linkage with the real estate registry. We are awaiting about 4 pieces of legislation from the Financial Supervision Authority, the real estate registry, the Ministry of Justice, and the Council of Ministers.”

Work is underway to establish a real estate registration unit within the headquarters of the Egyptian Stock Exchange dedicated to transferring ownership and advertising the real estate asset within 24 hours.

Real estate stock exchange

The real estate stock exchange is a special market for trading and transferring ownership of real estate assets. This stock exchange is considered a commercial platform that enables investors and real estate companies to buy and sell shares in real estate assets or invest in real estate projects.

Stages of property registration

The stages of registering the property for the purpose of trading on the proposed stock exchange include the following:

- The owner identifies the property to be registered.

- He chooses a real estate appraiser to determine the value of the property and the ownership units that will be traded.

- After that, the owner prepares all the necessary papers and documents to register the property for trading.

- The stock exchange's real estate registry unit is inquired about the ownership data of the property owner.

- After that, the owner addresses the stock exchange with documents that include a statement from the real estate registration unit. The stock exchange then lists the property data on its database and issues a trading code. The stock exchange then informs all parties of the code for trading the property.

According to the document, the meetings that took place in preparation for the launch of the stock exchange concluded that the first phase of the real estate stock exchange would be limited to registered properties exploited for non-residential activity, and that the property would be divided into equal real estate shares estimated at a unit of square metres.