Upwyde is a leading real estate developer in Egypt, known for its innovative and modern property developments. One of its most successful projects is the Iguall Mall, located in New Cairo, Egypt. This article will cover the features and benefits of the Iguall Mall and the legal aspects of owning property in Egypt.
Features and benefits of Iguall Mall
Iguall Mall is a modern, multi-use development located in the heart of New Cairo. Spanning an area of 39,000 square meters, the mall offers a range of facilities and amenities for residents and visitors alike. The mall is designed to cater to all the needs of the community with retail shops, restaurants, cafes, and cinemas. The shopping center is home to several international brands, making it a popular destination for tourists and locals.
One of the key features of Iguall Mall is its state-of-the-art architecture and design. The building boasts a sleek, modern style with large glass windows providing natural light, creating a pleasant shopping experience. The mall is surrounded by beautifully landscaped gardens and green areas that add to the serene environment.
In addition to its retail offerings, Iguall Mall has a range of entertainment options, including a cinema complex with multi-screen theaters, entertainment zones for children and adults, and a game zone. There is also a fitness center and a health club on-site with modern equipment.
Owning Property in Egypt
Owning property in Egypt is a straightforward process, but it is essential to follow the legal procedures correctly to avoid any legal issues. As a lawyer, I highly recommend that all property buyers seek legal guidance throughout the acquisition process.
Foreign nationals can own property in Egypt for residential or commercial purposes provided they adhere to certain conditions. Residential properties must not be located in border zones or strategic areas, while commercial real estate purchases require the relevant approvals from the authorities.
The first step in acquiring property in Egypt is to sign a preliminary contract. The preliminary contract outlines the key terms and conditions of the purchase, including the property description, the purchase price, and the payment schedule. Both parties must agree to the terms of the preliminary contract before moving forward.
After the preliminary contract is signed, the buyer must pay a deposit of 10% of the purchase price to the seller. The transaction must then be approved by the relevant authorities in Egypt, who conduct a due diligence check on the property to ensure it is free from any encumbrances or legal disputes.
Conclusion
Iguall Mall by Upwyde is a modern and innovative development that offers all the amenities of a modern lifestyle in one location. Owning property in Egypt requires following the legal procedures correctly to avoid any legal issues. As a lawyer, I recommend that all property buyers seek legal guidance throughout the acquisition process to ensure their legal rights and obligations are protected.