Assiut Trustees Chair on President's Real Estate Focus

Engineer Wissam Taiel, Chairman of the Board of Trustees of New Assiut City, confirmed that President Sisi's directives regarding real estate development companies' commitment to the timeline and full delivery of units with all utilities reflect the state's seriousness in protecting consumers and providing investment opportunities. He pointed out that the regulatory system is undergoing a transformation, with field committees being formed to monitor construction phases and ensure compliance with permits, accompanied by fines or land withdrawals in case of non-compliance. He also explained that the government has granted exceptional deadlines to address challenges that have exceeded the impacts of the COVID-19 pandemic and rising building material prices. He called for swift implementation and strict adherence to these deadlines. Additionally, he stated that Egypt has established more than 20 new cities over the past seven years, which has contributed to expanding urban space, alongside a stable real estate market and payment systems extending up to 15 years. He advised buyers to review the companies' histories before making purchases.

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