Egypt Introduces Digital Property Transfers, Targets EGP 7bn in Administrative Fees - The Middle East Observer
Egypt’s Ministry of Housing is targeting EGP 7 billion in administrative revenues from ownership transfer and assignment fees for residential, commercial and administrative units in new cities and governorate housing directorates over the next five years, according to a government official. The revenue target follows the ministry’s recent launch of an electronic property ownership transfer service through […]
Egypt’s Ministry of Housing is targetingEGP 7 billionin administrative revenues from ownership transfer and assignment fees for residential, commercial and administrative units in new cities and governorate housing directorates over the next five years, according to a government official. The revenue target follows the ministry’s recent launch of an electronic property ownership transfer service through the New Urban Communities Authority’s city authorities and governorate housing directorates, streamlining ownership transfers for state-developed real estate. The move is expected to reduce paperwork, shorten processing times and strengthen oversight of property transactions. Under the new regulations, transfers between first-degree relatives are subject to an administrative fee of1% of the unit’s contract value, with a minimum charge ofEGP 5,000, while transfers to non-first-degree relatives incur a10%fee. Applicants must also pay an additional1%in favour of the relevant city authority or housing directorate, alongside a5% maintenance deposit, unless proof of prior payment is provided. The ministry said ownership transfers will also require settlement of all outstanding financial obligations, official handover of the property and confirmation that the unit is free from building violations. The reforms form part of broader government efforts to digitise public services, improve regulatory compliance, enhance transparency in property transactions and diversify non-tax revenue sources. The administrative fees are separate from Egypt’s real estate disposal tax. Related news:NUCA and Horizon Egypt Sign EGP 15 Billion Agreement for Major New Cairo DevelopmentNew Alamein, a vision of progress, prosperity, and sustainable growth for generations to comeRead also:Egypt Returns to Japan’s Debt Market with $500m Samurai BondParliament Seeks Stronger Institutional Role for National Investment Bank