Egyptian Financial Supervisory Authority (EFSA) director, Sherif Samy said the Real Estate Summit, held in Cairo over the past two days, represented an opportunity for discussion and exchange of views on the government's real estate sector policies, al-Bawaba News reported Wednesday. Samy pointed out that the most important issues raised during the summit was the undisciplined legislative structure and the contrastive laws issued over the different decades in addition to the lack of funding mechanisms. He explained through «Real Estate Summit - Cityscape Egypt Real Estate» that the EFSA has completed the issuance of the Egyptian standards for the evaluation of real estate and proposed to the cabinet to establish an independent body, combining Ordnance Survey and Land Registry Office to facilitate registration procedures. Mikhail Orlov, chairman of the Egyptian-Russian Business Council, stressed on the great opportunities for foreign investment in Egypt, expressing his optimism about Russia's aspiration to participate in the Egyptian market. On the other hand, Mustafa Madbouli, Minister of Housing and Utilities will inaugurate the «Cityscape» fair, today Wednesday, in the presence of real estate pioneers.
