WB Keen to Support Egypt's Real Estate Registry Efforts

Mostafa Madbouly, Prime Minister held a meeting on Wednesday with representatives of the World Bank delegation concerned with the land and real estate registration system.

Madbouly began the meeting by confirming the government’s interest in accelerating the development of a new system for registering real estate and land, by facilitating the registration procedures, and making the necessary legislative amendments, so that all real estate in Egypt are registered within a few years.

The Prime Minister also referred to the unified national ID project for real estate and housing units, which will be applied experimentally in Port Said, in preparation for its circulation at the level of the Republic.

Madbouly expressed that the government welcomes any proposals by World Bank experts, based on their study of the current situation of the system, as well as by benefiting from the experiences of other countries that have been able to put in place easy and effective registration mechanisms.

On their part, representatives of the World Bank mission presented their proposals on the mechanism for registering real estate and land, guided by several successful experiences that have been applied in some countries.

Marina Weiss, the World Bank’s Regional Director for Egypt, Yemen and Djibouti affirmed that the bank is interested and eager to assist Egypt in setting up an effective system for registering land and real estate to achieve the government's goal of registering property.

At the end of the meeting, the PM directed the formation of a committee comprising the Ministries of Justice, International Cooperation, Communications and Housing to undertake coordination with the World Bank mission and integrate the proposals of the Bank's experts into the system.