1 Day
Source:
مصراوي
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Common Developer Contract
MP Amr Rashad unveiled proposals to regulate the real estate market, foremost among them adopting a standard contract for all developers to ensure a balance between companies’ and customers’ rights and hold companies accountable for late handovers. He noted that some developers delay delivery by four or five years without facing consequences comparable to those a customer might face for missing an installment payment. He also called for owners’ associations to be activated to manage projects and monitor how maintenance deposits are spent. These deposits range from 5% to 7% or even 10% in some projects. He said the measures aim to protect citizens and their savings while establishing clear rules that support real estate investment.
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