There are 500k unregistered buildings nationwide with a combined estimated market value of EGP 300 bn, the Housing Ministry’s Building Technical Inspection Authority chairman Abdel Moneim Saleh tells Al Borsa. Saleh says the ministry expects a haul of EGP 150 bn if the illegal developers filed to resolve the disputes. This is pending approval of a law on the resolution of construction violations the House is discussing. Saleh adds that dispute resolution is the only practical solution available now, as “99% of the properties” are inhabited and even tearing them down would involve high costs. Reclaiming state land and seizing unlicensed developments has been a major government priority, with President Abdel Fattah El Sisi launching a campaign early last month to “reclaim” the land and kick out squatters.

On that front, the state tore down buildings with a combined built up area of 18.39 mn sqm and has reclaimed more than 394.5k feddans of state-owned land in 26 governorates since the campaign began, the Agriculture Ministry said in its report on the seizures on Wednesday, reports AMAY.