Developers call for digitising property registration, sale process in Egypt

Developers call for digitising property registration, sale process in Egypt

Egypt’s real estate developers discussed new technologies to boost sales, namely the digitalisation of the local property market as a means of regulating the market, in a press conference last week.

Alaa Fekri, the member of the Real Estate Investment Division at Federation of Egyptian Chambers of Commerce and Chairperson of Beta Egypt, highlighted the importance of databases and information for the development of the real estate market, and noted that the lack of data and information is one of the biggest obstacles facing foreign investor inside Egypt.

Fekri said that there is great competition with other countries that rely on a large database and provide it to foreign investors, which greatly facilitates and attracts investment operations, pointed out that the session discussed forms of dealing with the market, entering hard currency into Egypt and exporting real estate.

Secretary General of the Egyptian Real Estate Council Walid Mokhtar said that there should be special and accurate data and information about the volume of demand for real estate in Egyptian market and benefit from them in conducting feasibility studies based on sound and solid foundations to enable real estate companies to produce accurate results about the real estate market.

Mokhtar called for the availability of