Arab Finance: Egyptian cabinet has ratified several resolutions, including the draft law on setting up a national ID database for real estate properties, the cabinet stated on August 9th.
As per the draft, a national real estate digital database shall be established, consisting of a unified non-duplicable ID number for each property linked to the codes of the country’s unified base map.
The draft stipulates that the Central Agency for Public Mobilization and Statistics (CAPMAS), in coordination with the Ministry of Communications and Information Technology, other ministries, and relevant authorities will be responsible for determining the components of the unified national ID for each property.
The cabinet has also approved draft resolutions on the two agreements related to the incorporation of Africa50 Project Development and Africa50 Project Finance companies as well as Egypt’s adherence to them.