Egyptian Association for Realtors to be Registered in 1M

Egyptian Association for Realtors to be Registered in 1M

Hashim El Kady, a member of the Egyptian Association for Realtors, said the legal procedures for the association’s registration are expected to be completed within one month, Invest-Gate reports.

El Kady stressed in a press statement on March 16 that the association needs a strong governmental and media support, developers’ belief in the initiative of gathering real estate marketing companies under one entity, as well as, cooperation with the Real Estate Development Chamber at Federation of Egyptian Industries (FEI) and Real Estate Developers Federation.

He elaborated that the real estate market has undergone many changes in the recent period, most notably the launch of new cities such as the New Administrative Capital (NAC) and New Alamein, which encouraged a number of new investors to capture investment opportunities in these cities.

Ahmed Shafik, vice president of the Egyptian Association for Realtors, said the association aims to create a good environment for the advancement of the profession by establishing a corporate code of ethics to protect the interests of clients, marketeers, and developers against any risks.

He noted that the idea of launching the Egyptian Association for Realtors came after the entry of many non-specialized companies in the real estate marketing field over the past three years, which witnessed many violations by some companies due to lack of expertise.

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