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Housing Minister explores Guarantee Account for real estate trust
The Egyptian Ministry of Housing is studying the implementation of a "Guarantee Account" system in real estate development projects to strengthen trust and regulate the market. The system is based on depositing installments and payments into dedicated bank accounts instead of direct payments to developers, aiming to protect buyers' rights and reduce the risk of project failure. Additionally, the ministry continues to update the property database as part of the National Property Number project, which has so far registered around 46,000 properties, to improve registration procedures and facilitate services for citizens.
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