Magdy El-Galad Criticizes New Real Estate Tax Amid Ongoing Cost-of-Living Crisis

Media personality Magdy El-Galad, editor-in-chief of ONA Media Foundation—which oversees platforms such as Masrawy, Yalla Kora, Al-Konstlo, and Shift—criticized the government’s decision to impose a property tax on private residential housing. He argued that the timing is inappropriate, especially given the prolonged economic strain faced by citizens due to persistent inflation and rising prices. n nSpeaking on the show “Kol El-Kalam” hosted by Amr Hafez on Al-Shams TV, El-Galad noted that Egyptians have been grappling with high inflation since 2022. Many had hoped that by 2026, the benefits of economic reforms would begin to materialize in the form of improved living conditions. Instead, he said, people are encountering new financial burdens that further pressure household incomes. n nHe expressed disbelief at the rationale behind taxing personal homes, asking: “Why should I pay a tax on my house when I’m already covering expensive electricity and water bills? Am I now being charged for the four walls sheltering me?” He emphasized that housing should be recognized as a fundamental right, not treated merely as a revenue-generating asset. n nEl-Galad also referenced the investigative report titled “iPhone for Zamzam Water,” conducted by journalist Mohamed Sami, head of news at Masrawy, which exposed how ten traders exploited pilgrims by smuggling iPhones in exchange for 4,000 EGP per device. n nHe acknowledged the report clearly revealed a real vulnerability in the system. However, instead of addressing it through thoughtful and strategic reforms, the government responded—according to him—by shutting down the entire mechanism, a move he described as overly broad and counterproductive. n nDespite multiple communications and proposed solutions submitted by ONA News to officials, he claimed no constructive dialogue followed. n nHe stressed that the issue does not lie with the journalism, which fulfilled its duty effectively, but rather with certain officials who lack the will to engage in serious work and develop practical solutions. “The problem isn’t with those who exposed the flaw,” he said. “It’s with those who don’t want to act or find balanced fixes, choosing instead to penalize everyone.” n— news from Masrawy

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