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المصري اليوم
Draft law outlines new Real Estate Developers Union
The goal of the draft law establishing the Egyptian Union of Real Estate Developers is to organize the real estate development activity in Egypt and to provide a legislative framework that regulates developers' operations, protects their rights and those of their clients. Additionally, it aims to dissolve the Real Estate Development Industry Chamber and to recognize the new union as the official representative of developers. The law includes the creation of a legal entity, and the formation of a board of directors consisting of 15 members for a four-year term. Its designated powers encompass setting rules for professional practice, classifying members, conducting technical and economic studies, and resolving disputes swiftly, all with the goal of improving the quality of implementation and financial discipline within the Egyptian real estate market.
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