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Old 26-07-2007, 07:13 PM
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Peter Mitry Peter Mitry is offline
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Default What to look out for in Egypt

In Egypt 90% of all properties are 'informal' that is to say they have no title deeds. There is currently no national land registry system in existence. Also beware of Sharm el Sheik as properties here are leasehold.

Some Developers on the Red Sea have purchased large tracts of land and are building huge Five Star resort complexes. I am an investor and have purchased five front line beach units in Sahl Hasheesh near to Hurghada. Here the Developers have employed British town planning consultants to produce a masterplan and every plot of land has been registered with the governate of Hurghada. All 32 million m2 has now been sold and the owners of every plot have to produce plans for their proposed projects which then has to be approved by the land owners and the local council. Once the plans are approved the building licence is issued and the construction monitored to ensure compliance.

Once completed, an occupancy licence is issued and the purchase can be registered and Notarised at the town hall.
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Last edited by Lsab; 03-04-2008 at 05:52 PM. Reason: promo
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