13 Hrs
Source:
وكالة صدى نيوز
Egypt Regulates Real Estate Market
The Egyptian real estate sector is currently experiencing significant developments through the preparation of a comprehensive law to regulate real estate development activities. The goal is to protect buyers, especially in light of the widespread practice of "off-plan sales," which carries risks such as delays and project failures. New regulations are being established, including the creation of independent bank accounts for projects, the classification of companies, and the implementation of a system to address troubled projects. Egyptian laws now impose greater oversight, provide transparent data to the public, and enforce strict penalties for violators, all aimed at enhancing stability and confidence in the real estate market. On the Palestinian side, there is a pressing need to enact comprehensive legislation that regulates off-plan sales and safeguards buyers' funds through financial and legal oversight. This would strengthen the protection of customer rights and ensure the sustainability of the Palestinian real estate market.
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