Makan Developments has unveiled a groundbreaking clause in its client contracts that ties installment payments directly to construction progress — a first-of-its-kind move in Egypt’s real estate sector. Under the new system, clients have the right to suspend payments if construction is delayed or halted, reinforcing transparency and client protection in the market, Invest-Gate reports.

Ibrahim El Feky, General Manager of Makan Developments, said the decision reflects the company’s confidence in its execution capabilities and financial strength. “This decision reflects our full confidence in our execution capabilities and strong financial solvency, which enable us to meet delivery schedules and maintain the highest quality standards. It also embodies our vision to establish new industry standards that build trust between clients and developers through a practical model that balances client rights with developer commitments.”

El Feky called on authorities to consider implementing the Escrow Account system in Egypt, similar to the model used in the UAE. “The Escrow Account system ensures that all installment payments are deposited into a dedicated account for each project, under government supervision. This guarantees that developers adhere to construction milestones and protects clients’ funds, thereby creating a safer and more sustainable environment for Egypt’s real estate market,” he explained.

Makan Developments is one of Egypt’s leading real estate developers, with a portfolio exceeding 15 projects across Mansoura, El Mahalla El Kubra, and New Cairo, in addition to residential, administrative, and medical projects in Saudi Arabia — notably in Jeddah, Abha, and Khamis Mushait. The company is currently developing 30 residential projects in Beit El Watan and New Narges, New Cairo, as part of its expansion strategy to strengthen its market presence in the coming period.