السيسي: تشكيل لجنة لتفقد المشاريع العقارية ومحاسبة المخالفين

The Egyptian President Abdel Fattah El-Sisi has directed the formation of a committee to inspect ongoing real estate projects across all governorates of the Republic to ensure the timely delivery of units without delay, to respect the contracts signed with buyers, and to complete the infrastructure of the projects, while ensuring accountability for violators and keeping the president informed of the measures taken periodically.

Inspecting the Situation

The spokesperson for the Presidency, Mohamed El-Shenawy, stated in a statement today that the president emphasized during a meeting with Prime Minister Mostafa Madbouly and Minister of Finance Ahmed Kouchouk the necessity of strict adherence to the implementation of laws, regulations, and presidential decisions related to the use of lands designated for tourism activities overlooking the Egyptian beaches.

The president directed the immediate formation of a committee from the relevant state agencies to inspect the situation on the ground to ensure citizens' free access to the beaches in accordance with the relevant regulations, and to prohibit the establishment of any facilities or works within a distance of 200 meters from the shoreline without obtaining prior approval from the concerned state authorities.

Tax Certificates

The Egyptian president approved a proposal to issue tax certificates funded by taxpayers, which will be deducted from their future tax obligations, provided that the return on them is at a good and suitable rate, contributing to reducing financing needs and thus the debt service bill. The spokesperson for the Presidency stated that the meeting included a presentation on the latest developments regarding hedging against the risks of global oil price fluctuations for the fiscal year 2025-2026 and the fiscal year 2026-2027. The Minister of Finance also reviewed the developments in applying the package of real estate tax facilities, including the first-time application of a "mobile application" and the measures taken to simplify the use of the application, noting that a similar application and system for property transaction tax will be launched in the coming days.

Final Performance

The Minister of Finance also reviewed the details of the final financial performance for the fiscal year 2025-2026, including the most important financial and economic indicators included in last year's budget. The Minister of Finance pointed out that the real growth rate in Egypt reached 5.2% during the first nine months of the fiscal year 2025-2026, confirming an improvement in most economic and financial performance indicators during the past year, including a reduction in the value of external debt for budgetary agencies and the expansion of the tax base through simplifying and automating procedures, increasing and activating non-tax revenues, as well as a noticeable improvement in the performance of financial markets and the Egyptian stock exchange, along with a significant improvement in the cost of insurance against default risks and the yield on Egyptian government bonds.