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الشرق الأوسط
Egyptian real estate reacts to presidential directive
The Egyptian real estate market is facing a serious crisis due to developers delaying the handover of units to buyers. This has prompted President Abdel Fattah El Sisi to issue directives emphasizing the need to enforce laws and penalize violators to protect citizens' rights. In response, specialized committees have begun inspecting projects in several cities amid widespread complaints of delays lasting years, units being sold to multiple clients, rising costs, and the financial deterioration of companies. This crisis poses a threat to the reputation of the market and investment confidence. Experts have called for the issuance of legislation to regulate the relationship between developers and clients, and for improving the legislative environment to ensure sector stability and put an end to these crises.
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