2 Days
Source:
المصري اليوم
New rules for property owners in Cairo and provinces
The article pertains to the government's approval of a new system for estimating and disbursing compensation to owners of buildings and structures with distinctive architectural styles in cases of demolition bans or additions. The system outlines the requirements for submitting the necessary documents, including proof of ownership and technical valuation. It also specifies how to determine the compensation value, based on the difference between the market value of the property after designation and its value before designation, relying on evaluations by real estate experts. Compensation is usually paid in a lump sum within six months, though it can be divided into installments with interest. Owners have the right to appeal the valuation within 60 days. Additionally, a specialized committee is responsible for assessing applications and determining the compensation amounts; it holds monthly meetings to review requests and make decisions.
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