Egypt is preparing to issue the regulation of electronic platforms for real estate funds

The Financial Supervisory Authority in Egypt is issuing the executive regulations for organizing the electronic real estate fund market market during the next few days, according to the head of the commission, Mohamed Farid. In an interview with ‘Al -Sharq’, on the sidelines of the today’s real estate conference held in Cairo, he explained that the modified regulation will organize the process in an integrated way to include the details of the qualifying companies to obtain the license to manage these platforms, the bodies they manage, and the evaluation of real estate. He noted that all these procedures will take place electronically with the aim of accelerating and facilitating operations in a way that ensures an increase in investors’ demand for them, especially young people. Farid has indicated that 4 companies have so far applied to issue licenses for electronic real estate funds.