Thursday 26 Dec
The New Urban Communities Authority has issued securitization bonds worth over 40 billion Egyptian pounds, according to Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority. These bonds have provided the necessary financial liquidity to support the Authority's activities and drive urban development in Egypt.
Speaking at the opening session of the "The Investor.. Real Estate" conference, Dr. Farid emphasized the Authority's commitment to technology adoption. He highlighted the aim to establish electronic funds, following the completion of title insurance. This reinsurance mechanism for residential units will facilitate the promotion of Egyptian real estate in international markets.
Dr. Farid further explained that these title insurance documents will enable the export of real estate in both coastal and inland areas. The insurance company can provide confidence and credibility to the investor and compensate him in case of a real estate dispute.
