Real Estate Gets Legislative Overhaul
Invest-Gate reviews the different laws related to the real estate sector, starting from the existing laws pending amendments to some long-awaited laws for buyers and developers.
Invest-Gate reviews the different laws related to the real estate sector, starting from the existing laws pending amendments to some long-awaited laws for buyers and developers.
In an attempt to enrich the market, Egypt’s cabinet ratified last July the state’s residency-for-property law, allowing foreigners to acquire a five-year residency in Egypt in return for owning properties worth nearly USD 400,000.
The executive regulations for the residency law are underway fine-tuning and will be issued within a month or so. In this regard, Invest-Gate delves into the newly amended law to evaluate its potential in rendering the Egyptian economy as well as reviving the real estate industry.
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