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Egypt Asset Management notifies hundreds of properties of the increase in rental value or eviction

Public business sector sources revealed that Misr Real Estate Asset Management Company, one of the Ministry’s companies, had finished notifying all its real estate owners with vacating real estate, or agreeing to increase the rental value for a number of times, especially since most of the properties are old rent, and its value is very small, which It represented a burden on the company, pointing out that a large number of companies in the business sector are renting real estate from Misr Asset Management Company, and therefore they are now required to agree to increase the rental value for the number of folds, which represents a large burden on the rental companies.

Egypt’s Asset Management Plan focuses on vacating many properties for maintenance, restoration and development, especially real estate in downtown Cairo, with the assistance of a specialized company that handles the negotiation file with the occupants of those real estate, in addition to carrying out the necessary maintenance and development work, we extend the life of the real estate and improve its facilities, and thus increase the rental value to it, including It is consistent with current rental values ​​that cannot be compared to old rental values.

Misr Asset Management Company owns about 178 properties in Cairo, including 4221 old rental units, 395 new rental units, while it owns 15 properties in the Canal and Sinai cities, including 148 old rental units, 17 new rental units, in addition to owning 16 properties in the Delta, including 4 units Old rent and 195 new rental units.

The company also owns, according to official data, real estate in Upper Egypt governorates, including 278 old rent and 126 new rental units, in addition to owning 105 real estate in Alexandria Governorate, including 1171 old rental units and 62 new rental units.

According to the data, the company’s total real estate amounts to 351 properties, of which 5,822 are new rental units and 795 are new rent.

The sources pointed out that there are negotiations between the business sector companies and the Misr Real Estate Asset Management Company to reach an agreement with regard to increasing the rental values ​​in the coming period or reaching an agreement to vacate them in exchange for some settlements.

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