17 Hrs
المصدر:
الاقتصادية
Egypt's Housing Minister on Real Estate Law Progress
Egyptian Housing Minister Randa Manzawyi confirmed that the draft law regulating the real estate market is currently under review by the Cabinet, with plans to present it to Parliament. The aim is to organize the real estate sector and strengthen its institutional framework by establishing an association for property developers. She noted that the sector is one of the largest drivers of development in Egypt, providing between 5 to 6 million jobs, and contributing approximately 20% to the gross domestic product (GDP). She also revealed that the sector has grown by 319% between 2018 and 2025, with the top 21 developers generating sales of around 1.46 trillion Egyptian pounds. During the first half of 2025, the ten largest developers sold about 39,000 units, with the North Coast accounting for 33% of sales. Currently, the market is experiencing a slowdown due to difficulties in unit repayments, delays in delivery, and challenges in reselling units. Additionally, the minister announced plans to offer about 15,000 plots of land to Egyptians abroad as part of the "Bait Wataniya" (Homeland Home) project in 2026, with a total value approaching $1.5 billion, following an increase in the number of plots to meet citizens’ requests, along with ongoing procedures for allocation.
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