Dr. Mostafa Madbouly, Prime MinisterPrime Minister, chaired a meeting today to review ongoing efforts to regulate and organize Egypt’s real estate market, in implementation of directives issued by President Abdel Fattah El-Sisi, invest-gate reports.
The meeting was attended by Eng. Randa Elmenshawy, Minister of Housing, Utilities and Urban Communities; Dr. Waleed Abbas, Deputy Minister of Housing for New Urban Communities; Dr. Ahmed Emara, Supervisor of the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority (NUCA); Eng. Mostafa El-Naggar, Head of the Housing and Utilities Sector at the Ministry of Housing, along with a number of senior officials.
The Prime Minister noted that the meeting comes as part of efforts to implement the President’s directives on strengthening oversight and regulation across the real estate sector.
He stressed the importance of ensuring that contractual commitments to homebuyers are fully honored, projects are delivered on schedule, and real estate developers meet their obligations to customers in a manner that safeguards the rights of all parties.
Prime Minister Directs Review of Delayed and Stalled Projects
In this context, Madbouly directed the relevant authorities to compile and assess the challenges facing a number of real estate projects and identify the underlying causes of project delays or disruptions.
He emphasized the need to determine responsibility in each case, including whether delays are the result of shortcomings by developers or circumstances beyond their control, while establishing appropriate mechanisms to address these challenges in a way that protects stakeholders’ rights and encourages further investment in the sector.
During the meeting, the Prime Minister also referred to a series of previous discussions on the proposed Egyptian Real Estate Developers Union Law.
He noted that the legislation is expected to establish a clearer legal framework for regulating the real estate market, enhance governance and balance the interests of all market participants, while protecting the rights of different stakeholders.
He underscored the strategic importance of the real estate sector as one of the key pillars of the Egyptian economy.
For her part, Eng. Randa Elmenshawy highlighted the significant role of the real estate investment and development sector in supporting economic activity and contributing to the government’s broader development plans.
She affirmed that while the government remains committed to supporting and developing this vital sector, it is equally focused on protecting the rights of citizens dealing with real estate developers and ensuring full compliance with contractual obligations.
Elmenshawy noted that serious real estate investors and developers operate according to clearly defined timelines, regulations and implementation requirements, stressing that such developers represent the majority of the market.
She also reviewed a number of issues reported to the Ministry regarding certain stalled real estate projects, as well as the measures currently being taken to address them.
The Minister added that regulatory authorities have also requested a comprehensive inventory of stalled projects, noting that work is currently underway to finalize this assessment and establish mechanisms for addressing the related challenges.
Proposed Developers Union Law Moves Toward Public Discussion
Regarding the proposed Egyptian Real Estate Developers Union Law, Elmenshawy said that the draft legislation is currently being finalized in preparation for public discussion before being submitted to the Cabinet.
At the conclusion of the meeting, the Prime Minister emphasized that the cases of project delays identified so far remain limited compared to the overall scale of development activity carried out by serious and committed developers.
He reiterated the importance of the real estate sector and its contribution to the Egyptian economy, reaffirming the government’s continued support for this vital industry, which includes numerous reputable developers delivering distinguished projects both inside Egypt and abroad.
At the same time, Madbouly stressed the government’s commitment to supporting buyers and reservation holders in stalled real estate projects and ensuring that they are able to obtain their full rights.
The Prime Minister also directed the relevant authorities to expedite the completion of the Egyptian Real Estate Developers Union Law and move forward with presenting it for dialogue and discussion.
He noted that its provisions are expected to play an important role in regulating the real estate market and driving further development across this key and strategic sector.