Primer Minister Mostafa Madbouly has mandated the swift finalization of a draft law to establish the "Egyptian Federation for Real Estate Developers," which aims to regulate property development, ahead of its presentation to the cabinet for approval.

Egypt's Ministry of Finance denied news circulated on any fundamental amendments made to the income tax and value-added tax (VAT) laws.

Egypt's finance ministry has finalized proposed amendments to few provisions of the public-private partnership (PPP) act, which were already ratified by the cabinet and passed to the State Council for legal review, attempting to streamline procedures in this regard

Egyptian Parliament's Housing Committee approved on June 11 a proposed amendment that would see tenants, who signed long-term leases before 1996 and are using their properties for non-residential purposes, pay significantly higher rents.

Egyptian real estate developers and the Ministry of Housing will meet by March-end to discuss the draft law of real estate development bill, which stipulates the establishment of a federation for property developers and set up a fund to hedge against sector-related risks.

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.

Egyptian parliament’s General Committee gave preliminary approval for the draft law on reconciliation in building violations on January 25, which is expected to provide the government with about EGP 150 bn when issued.

Member of Parliament’s Housing Committee Mohamed Abdel Ghany officially told Invest-Gate that Egypt's Real Estate Development Law will be issued within five months.