The first session of the community dialogue began today, Monday, and is being conducted by the coordination of youth parties and politicians, on the real estate month law , in response to the Egyptian street, which was concerned about this law.
The coordination said in a statement, today, that it aims to formulate consensual results that express the views of all political orientations, and in a manner that takes into account the interests of the Egyptians.
Real estate law amendments
The session began with the speech of the head of the Real Estate Registration Authority, Gamal Yaqout, and began his speech by clarifying the importance of the real estate registration law, as it is a law that affects the lives of 100 million citizens and cannot be dispensed with, because the real estate month deals with Egypt’s hidden and wasted wealth.
Yaqout continued: By announcing the rate of real estate registration in Egypt, that it does not exceed 7 percent, and there are 93 percent of real estate unregistered, but it can be registered, which is what we seek.
93% of real estate is unregistered
Speaking about the vision of the real estate registry in the future, Yaqout said that Law 114 of 146 needs to be deleted and replaced with a new law, because in 2021 it is not possible to rely on a law issued in 146, and the number of real estate in Egypt now differs from the number of 70 years ago.
The head of the Real Estate Registration Authority added that the country’s economy is based on real estate wealth, and we cannot rely on amendments to the law that address instantaneous problems, stressing that he does not want the real estate registration law to be linked to other laws, and property registration must be independent of the problem of services or reconciliation over Building violations, and other obstacles.
Representatives and members of the Youth Coordination of Parties and Politicians began asking questions to the head of the Real Estate Registration Authority, where Representative Akmal Najati, a senator from the coordination, asked him about the features of the amendments that the Real Estate Registration Authority made to the law, and in turn Yaqout answered that the first amendment includes reducing The duration of the application for registration is from two years to one month, until the applicant submits all his documents once, without going through a sterile cycle of lengthy procedures.
Representative Amr Darwish, a member of the House of Representatives for the coordination, said that the problem is not in the duration, but in the documents that make citizens reluctant to register, and the number of old bureaucratic procedures, which prevent the achievement of this goal. The sterile documents, and the criteria for forming the committee that will be assigned by the Real Estate Registration Authority, to go to the Egyptian street.
Representative Ahmed Makled spoke about the legal aspect of the real estate registry, and dealt with the urban property registry law, stressing the need to circulate it to solve registration problems. The head of the real estate registry agreed with the deputy, about the need to circulate this law.
The representative reviewed the proposals to amend the law, and discussed the article added by the real estate poetry, which talks about the conditions for proving ownership, and “Jamal Yaqout” delivered the text of the article, which is “quiet stable possession without objection for five years to prove ownership.”
Representative Rasha Kulaib, a member of the House of Representatives for the Coordination, asked about the way to benefit from registration, as long as the facilities and services exist in all housing units? And is there administrative and financial independence in the interest of the real estate registry?, and Yaqout answered all these questions, that the benefit What benefits citizens, is represented in the increase in the value of the property, and that the unregistered property cannot take a mortgage, loan or financing on it, while the registered property is a financial repository for citizens, and that there is complete independence for the interest of the real estate registry.