Al-Awwat: Real Estate Index Ensures Highest Expropriation Compensation
Minister of State for Political and Parliamentary Affairs, Abdel Monem Al-Ourdat, confirmed that the proposed amendments to the Real Estate Ownership Law aim to ensure fair compensation for citizens when their lands are expropriated. He explained that the amendments include adopting more precise criteria for valuing properties, such as the size of the property, the type of zoning, and the location, and that the valuation should not be older than one year to ensure up-to-date assessments. Additionally, the amendments propose increasing the expropriation threshold from 10% to 20%, with the highest value between the administrative price and the prices of nearby sales to ensure fair compensation. This comes within the framework of enabling the Land and Survey Department to provide services electronically and facilitate valuation processes, as well as granting the authority to transfer ownership of state lands to investment funds to encourage investment.
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