Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with members of the housing committee as well as real estate developers to discuss the draft law regulating real estate development activity, Invest-Gate reports.

During the meeting, El Gazzar stressed that the state aims to issue a balanced law that regulates the relationship between all parties involved in the real estate development activity and fulfills the interests of all parties, including the developer, buyer, and organizer, according to a ministerial statement on February 25.

The new law targets ensuring the continuity and stability of the Egyptian real estate sector, which is one of the most important economic locomotives in the country, he underlined.

In addition, the housing minister discussed the proposed articles of the bill with the attendees and called them to present their final proposals and views for discussion at a later meeting in order to reach the most optimum version of the new law to achieve the interests of all parties.