22 Hrs
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بوابة الشروق
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Real Estate Group Reports Client Violations
The article discusses the crisis of violations in Egypt's real estate development sector, highlighting numerous cases of illegal activities by some developers, particularly regarding unilateral residential unit contracts and customer exploitation. Engineer Mohamed Al-Bostani pointed out that the doubling of the real estate market over the past 20 years has led to issues in contract implementation and its legal foundation, compounded by the absence of clear regulations governing developers' work. He also emphasized that most contracts lack buyer rights, with buyers signing agreements unilaterally without discussing the terms, and that clients often prioritize price over security, exposing themselves to greater risks. The government has indicated that it has begun identifying stalled real estate projects to better understand the problems and work on solutions, noting that the number of truly problematic cases is lower compared to the total number of companies and projects in the market.
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