Egyptian PM follows up on setting up national property inventory system
Egyptian Prime Minister Mostafa Madbouly followed up on the real estate inventory project, which aims to create national numbers for real estate units
The PM asserted, on Sunday, the importance of speeding up the implementation of the Egypt’s real estate inventory and property management system.
The move is aimed at preserving property ownership, and to ensure that services can be provided easily..
The Prime Minister said that the project will contribute to reducing violations and infringements, and enhance Egypt’s information technology (IT) system in attracting global investments.
Moreover, Minister of Communications and Information Technology Amr Talaat said that the real estate inventory and property management system aims to achieve rational management of the country’s real estate.
The system will do so by building up an accurate spatial database, and will be integrated with the information infrastructure project, as part of Egypt’s digital transformation plan.
Talaat said the new system will create a unified and central database for all types of real estate. He also said that the database will define building requirements in localities and urban communities, alongside licensing data and violations for each property.
The minister added that the new system will also determine the value of real estate taxes to be collected, and real estate ownership data. This comes in addition to outlining the administrative division of each state entity, and collecting data on the consumption of utilities including water, electricity and gas.
Talaat stated that the new property management system will divide the land within Egypt’s borders into a number of overlapping squares, and that the system will be applied first on Port Said Governorate.