Egypt's ministry unveils new incentives to support developers, ease market pressures
According to Tarek Shoukry, Chairperson of the Real Estate Development Chamber at the Federation of Egyptian Industries, a recent meeting between the Minister of Housing and chamber representatives led to the approval of several key policy adjustments in response to developer demands.
Among the most notable measures is the Ministry's decision to permit the conversion of residential, administrative, and commercial units into serviced units without incurring additional fees—a move intended to help alleviate the shortage of hotel accommodations.
The Ministry has also extended the validity period for operational licenses from one year to five years and approved the renewal of a reduced 15% interest rate on land installment payments for another year, spanning from May 2025 to May 2026.
Additional incentives include a six-month extension for current project deadlines and a 10% increase in permitted built-up areas, helping developers absorb rising construction costs.
The Ministry committed to holding regular coordination meetings with the Real Estate Development Chamber and announced the upcoming activation of the national real estate platform, with preliminary registration expected to launch soon.
In parallel, Minister of Housing Sherif El-Sherbiny announced new financial relief measures for citizens with overdue payments on residential, administrative, commercial, and professional units, as well as villas affiliated with the Buildings Finance Fund. Under this initiative, a 70% waiver on late payment penalties will be granted to those who fully settle their outstanding dues. This offer will be available for three months—from June 1 to August 31, 2025.
The minister emphasized that these efforts align with the Ministry's strategic vision to stimulate development and adhere to presidential directives to reduce financial burdens on citizens.
Hesham Darwish, Supervisor of the Construction and Contracting Sector at the Housing Ministry and Chairperson of the Buildings Finance Fund, added that the initiative responds directly to citizen requests for more flexible payment options. He noted that clear implementation guidelines will be provided to ensure the initiative's success and support broader economic stability.
Darwish also clarified that the relief applies to units involved in ongoing or preliminary legal cases—whether at the trial or appeals level—provided full payment is made in cash, including all related legal and administrative fees. However, the incentives do not extend to cases where the client has initiated legal action against the Fund unless all such lawsuits are fully withdrawn. Additionally, units, villas, or shops subject to cancellation decisions or final enforceable court rulings are excluded, in accordance with the Fund's real estate regulations and board decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
18 hours ago
- Zawya
Dubai Land Department, Masdar City sign memorandum to enable free zone companies to own properties in Dubai
Dubai Land Department signed a memorandum of cooperation with Masdar City, aiming to enable companies and establishments operating in the free zones under Masdar City to own land plots and properties under the freehold ownership system in Dubai, within a clear and comprehensive regulatory framework. This step is part of Dubai Land Department's efforts to enhance the competitiveness of the emirate's real estate market and expand the investor base by creating new opportunities for free zone companies, in line with the objectives of the Dubai Real Estate Strategy 2033. The MoC was signed by Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, Chief Executive Officer of Masdar City, during an official ceremony held in Dubai, in the presence of several directors from both sides. Majid Al Marri said, 'We continue to expand access to Dubai's freehold market through collaborative models that enhance the integration of the real estate ecosystem across the UAE. Enabling companies registered in free zones to own property in the emirate aligns with our vision of building a more open investment environment that offers diverse ownership options. We consider this a strategic step that adds significant value to the objectives of the Dubai Economic Agenda D33 by diversifying the investor base and stimulating new investment flows that contribute to market growth and sustainability, all in line with our leadership's vision of making Dubai the best city in the world to live and work.' Ahmed Baghoum said, "This initiative highlights Masdar City's commitment to supporting businesses with innovative solutions that address their needs. By simplifying property registration processes for companies operating within Masdar City's Free Zones, we are enabling them to expand their operations seamlessly while contributing to the UAE's long-term growth. This partnership highlights our shared vision with DLD to create a business-friendly environment and reinforces Masdar City's position as a global hub for innovation and investment." Under this memorandum, both parties will collaborate on developing an integrated framework that includes clear eligibility criteria for establishments, along with the legal and administrative procedures required to complete the registration process. The cooperation will also ensure direct coordination between the Dubai Land Department and the Free Zone Authority to simplify and expedite procedures, enable smooth data exchange, and implement an advanced digital system for online applications, request tracking, and document verification, enhancing accuracy and transparency. Additionally, the partnership will provide guidance and support to companies, enabling them to understand the legal and procedural requirements better and ultimately fostering an environment that encourages ownership and investment. This collaboration aims to support companies' expansion plans by providing practical solutions that facilitate their entry into Dubai's real estate market, one of the most dynamic and thriving markets in the region. It also reflects Dubai Land Department's commitment to adopting open policies that enhance market flexibility, support national efforts to attract high-quality investments, and contribute to building a more integrated business environment across the UAE.
Arabian Business
19 hours ago
- Arabian Business
Sharjah real estate: Property transactions surge 48% to $7.35bn in H1 2025
Sharjah's real estate sector recorded AED 27 billion in transactions during the first half of 2025, marking a 48.1 per cent increase from AED 18.2 billion in the same period last year. The Sharjah Real Estate Registration Department processed 48,059 transactions, representing a 3.3 per cent increase compared to 46,524 transactions during the same period in 2024. View this post on Instagram A post shared by دائرة التسجيل العقاري بالشارقة (@shjrerd) The performance reflects growing investor confidence in Sharjah's real estate sector, supported by economic stability, investor-friendly legislation, and infrastructure developments. The diversity of investor nationalities has reinforced the emirate's position as a competitive property market. Abdulaziz Ahmed Al-Shamsi, Director-General of the Sharjah Real Estate Registration Department, said: 'This significant increase is a direct translation of the firm confidence in the emirate's real estate sector, both locally and internationally, and the continuous support of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the keen follow-up of H.H. Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah's Executive Council, which has firmly positioned Sharjah on the regional and international real estate sector.' Transaction growth outpaces last year Sales transactions reached 15,686 with a value of AED 21.2 billion, distributed across 214 areas and covering a total area of 90 million square feet. This represents a 45.1 per cent increase from 10,809 sales in the first half of 2024. The Muwailih Commercial area led with 2,898 transactions worth AED 3.5 billion, followed by Al-Belaida with 1,593 transactions valued at AED 1.3 billion, and Al-Metraq with 1,387 transactions worth AED 430 million. Residential transactions dominated the market with 11,459 transactions, representing 74.6 per cent of the total. Industrial properties accounted for 3,195 transactions (20.8 per cent), commercial properties recorded 603 transactions (4 per cent), and agricultural properties registered 95 transactions (0.6 per cent). Mortgage transactions reached 2,582 with a total value of AED 5.7 billion, completed through 24 financing entities. The growth in mortgage transactions reflects the partnership between the real estate sector and financing institutions in the emirate. Tilal topped mortgage transactions with 194 deals valued at AED 339.2 million, followed by Muwailih Commercial with 167 transactions worth AED 707.3 million, Um Fanain with 146 transactions valued at AED 222.6 million, and Al-Saja'a Industrial with 71 transactions worth AED 204.8 million. Eight new real estate projects were registered during the period, including four residential complexes in Muwailih Commercial, Al-Tay, and Al-Tay West. Four new towers were also registered—two industrial in Al-Saja'a Industrial, and two residential/commercial towers in Al-Belaida and Al-Waha. Emiratis dominate Sharjah real estate A total of 109 nationalities invested in Sharjah's real estate market in the first half of 2025. UAE nationals accounted for AED 12.2 billion in investments across 14,307 properties, representing 45.2 per cent of total investments. GCC nationals invested AED 1.2 billion across 889 properties (4.6 per cent), while other Arab investors contributed AED 5.4 billion through 4,057 properties (20.1 per cent). Investments by other nationalities totalled AED 8.1 billion across 3,878 properties, representing 30.1 per cent of the total investment value. The number of foreign investors in Sharjah rose 39.4 per cent year-on-year to 6,662, with 7,448 properties traded, up 40.6 per cent. By number of properties traded, Emirati investors led with 14,307 properties, followed by investors from India (1,525), Syria (969), Egypt (685), Jordan (678), and Iraq (576).
Arabian Business
19 hours ago
- Arabian Business
Dubai real estate: New DIFC-licensed platform allows anyone to invest in property from $137
Deed, a platform licensed by the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority (DFSA), has launched to the public, enabling global investors to purchase fractional shares in the emirate's residential properties starting from AED 500. The platform addresses barriers that have traditionally prevented investors from accessing Dubai's property market, including requirements for capital, paperwork, and physical presence. Global access to Dubai properties Deed eliminates these obstacles through a process that allows users to register, verify their identity, and begin investing within minutes. Investors purchasing fractional shares through Deed receive monthly rental income proportional to their ownership stake. When properties are sold, capital gains are distributed among investors according to their shareholdings. The entire process operates through a digital platform accessible from any location worldwide. Bashar Khdair, CEO and co-founder of Deed, said: 'Real estate shouldn't be reserved for the few. At Deed, we've made it simple for anyone to start owning real property in Dubai, from anywhere in the world. Whether you're looking to grow your income or build long-term wealth, we've built a platform that brings the opportunity to your fingertips, fully digital, fully transparent, and fully regulated.' The platform accepts investments ranging from AED 500 to AED 50,000, providing access to the city's property market without geographical restrictions or requirements for substantial capital. During its soft launch phase, thousands of users joined Deed's wait-list, indicating demand for accessible wealth-building tools.
