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المصري اليوم
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Real estate delays enable client refunds
The article discusses the proposed changes to the regulations governing the real estate market in Egypt. Engineer Tarek Shukry announced the integration of the Real Estate Market Regulation Law and the establishment of the Real Estate Developers Federation into a unified draft law, which is scheduled to be approved by the end of October. The law includes regulatory provisions such as opening dedicated accounts for projects, providing financial guarantees before sales, and regulating cases of delivery delays—grants developers a grace period of up to 12 months, with clients having the right to recover their funds if the delay persists. It also focuses on organizing maintenance funds and regulating developers’ violations, with the aim of enhancing transparency and protecting clients' rights in the real estate sector.
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