Dr. Ashraf Ghareeb, an economic expert, stated that the cabinet’s approval, chaired by Dr. Mostafa Madbouly, of a proposal by the Ministry of Local Development to offer a 25% reduction on the total settlement fee for building violations, provided full payment is made immediately for structures in settled, inhabited scattered areas that cannot be demolished, aims to encourage swift citizen compliance. This initiative seeks to formalize irregular constructions, expedite resolution of building code violations, and improve urban aesthetics. n nIn exclusive remarks to “Ahel Misr,” Ghareeb emphasized that the discount for immediate payment serves as an incentive for applicants, promoting faster settlements. This accelerates revenue collection from violators, generates state income, and speeds up the regularization of illegally constructed buildings. It also helps correct urban distortions and simplifies legal procedures for property owners to secure formal ownership rights. n nHe added that the measure will positively impact the real estate market. Once legal statuses are stabilized, investor and buyer confidence in property transactions will grow. This is expected to stimulate local real estate activity, contribute to price stability for both properties and construction materials, and allow previously unauthorized buildings to be completed legally. Increasing the housing stock benefits the market overall. n nMoreover, the policy reassures citizens, buyers, and investors about the legal safety of formerly non-compliant properties. It also restores order to construction activities and helps curb informal building practices, contributing to a more regulated and transparent property sector.
