Real estate exchange expected to be complete with 4 months, EGX chairman

Cairo – October 23, 2023: Egypt’s stock exchange (EGX) expects its new real estate exchange to be launched within the coming four months, explained EGX chairman Ahmed El-Sheikh in an interview on Monday, noting that the exchange is finalizing the required system.

During his interview, the chairman revealed that a notary public unit within the EGX will be created for the ownership transfer and registration of real estate assets. A local news outlet stated that the real estate exchange’s first phase will be centered on vacant non-residential registered properties.

Real estate exchanges are an investment tool for investors or entities to trade ownership of properties for another, this is usually for portfolio adjustments or location optimization. Properties or units exchanged in the exchange will be distributed into a set of shares each determined based on certain square meters.

The Egyptian authorities are currently implementing measures to develop the local real estate sector, including a recent draft law bill for the establishment of a national electronic database for real estate.

Recognized as one of the region’s largest real estate markets, Egypt currently has more than 530 residential and mixed-use real estate projects valued at $329.57 billion, according to a report by Property Finder in September.