Prime Minister Mostafa Madbouly met on Tuesday with a number of real estate developers to continue consultations on a proposed draft law regulating the real estate market.
Minister of Housing, Utilities and Urban Communities Randa El-Menshawy, Deputy Minister of Housing for Urban Communities Walid Abbas and ministry officials attended the meeting.
During the meeting, Madbouly stressed the importance of establishing a legal framework that encourages real estate investment while protecting the rights of the state, developers, homebuyers and other stakeholders.
The prime minister reaffirmed the sector’s importance as a driver of economic growth and highlighted government efforts, led by the Ministry of Housing in coordination with regulatory bodies, to identify stalled projects nationwide and develop solutions.
He noted that the draft law has been prepared and will undergo consultations before being submitted to the Cabinet and subsequently to Parliament.
Minister El-Menshawy, for her part, reaffirmed the ministry’s commitment to the sector’s stability and expansion while protecting homebuyers.
She said cases of stalled projects or delayed deliveries remain limited relative to the sector’s overall performance and are being addressed systematically.
El-Menshawy explained that the draft law proposes establishing the Egyptian Real Estate Developers Union as a professional body to enhance market transparency, resolve disputes and classify developers according to project volume, financial solvency and operational capacity.
It would establish stricter customer protections, regulate entities that do not yet meet full competency requirements as “entities akin to real estate developers”, and support private-sector participation in new urban communities.
The meeting reviewed registration and practice requirements, the developers’ registry, classification criteria, transitional arrangements, customer protection during project distress, developers’ obligations, and the Union’s proposed code of ethics, conduct rules and Board representation.
Developers highlighted the sector’s contribution to economic growth, while calling for clear distinctions between serious and non-serious developers and objective financial and technical standards.
Madbouly directed developers to thoroughly review the draft and submit comprehensive feedback before its Cabinet presentation.
