In a statement Tuesday, the authority’s Real Estate and Commercial Affairs sector clarified that clients can now complete property transfers, including sales and waivers, without being required to pay the full price of the property upfront.
Under the new mechanism approved by the board, owners must
only ensure all financial installments due up to the date of the transfer are
settled. The process remains governed by Articles 22 and 29 of the authority's
real estate regulations.
The move is part of an effort by the housing body to simplify real estate transactions and support the property market in Egypt’s new urban centers.