Prime Minister Mostafa Madbouly chaired a meeting on Tuesday to review measures for organizing Egypt’s real estate market. The session included Housing Minister Randa El-Menshawy, Justice Minister Mahmoud Helmy El-Sherif, and senior officials from the Housing Ministry and Urban Development Fund.
Madbouly stressed the importance of the construction and real estate sector in driving economic growth and creating jobs. He emphasized the urgent need to regulate the market to ensure transparency, protect investors and citizens, and establish clear rules for all parties. The government is also working on a comprehensive database to identify and remove unqualified developers.
Cabinet spokesperson Mohamed El-Hommosany said the meeting discussed creating a unified body for developers. This entity would classify developers based on financial and technical capacity, preventing unqualified companies from launching large projects. The aim is to protect buyers, safeguard the reputation of serious developers, and avoid project delays or defaults.
The government is preparing a legislative and institutional framework to balance the interests of the state, developers, and clients, while supporting property exports and market growth. Madbouly also directed a nationwide survey of unused lands and housing units to accelerate development and increase supply.
This initiative seeks to stabilize Egypt’s real estate market and boost its competitiveness regionally and globally.
