18 Hrs
Source:
المصري اليوم
Government unveils 5 real estate sales rules
The government has focused on establishing a new regulatory framework for the real estate market aimed at protecting buyers' rights and promoting market stability. This system includes mechanisms to regulate the relationship between developers, official authorities, and buyers, ensuring transparency and financial discipline by opening separate accounts for each project, linking funds to the progress percentage, and requiring semi-annual financial reports. The system also defines the rights of clients in case of delivery delays, allowing buyers to recover their funds or receive the unit along with compensation if the delay exceeds 12 months. The main objective is to enhance confidence in the market and create a stable investment environment, not by imposing restrictions on developers' expansion, but by regulating their relationships with buyers and official entities.
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