Prime Minister Mostafa Madbouly has directed officials to compile a comprehensive list of stalled real estate projects, identify the causes of delays and determine responsibility, as part of efforts to regulate the real estate market and implement President Abdel Fattah El-Sisi’s directives to protect citizens’ contractual rights.
He also stressed the need to ensure compliance with contracts, prevent delays in unit delivery and ensure that developers fulfil their obligations, while proposing solutions that safeguard citizens’ rights and encourage investment.
Madbouly directives came during a meeting he called with Minister of Housing, Utilities and Urban Communities Randa El-Menshawy and senior officials.
The meeting featured a review of the draft law establishing the Egyptian Federation of Real Estate Developers.
In this respect, Madbouly said the legislation would provide a legal framework for greater governance and balance in the sector while protecting the interests of all parties.
For her part, Minister El-Menshawy affirmed the sector’s major contribution to economic activity and development plans, stressing that the government supports serious developers while ensuring citizens receive their full contractual rights.
She noted that most serious developers comply with established timelines and regulations, while a comprehensive list of stalled projects is being finalised.
The minister added that the federation’s draft law is also being finalised for submission to the Cabinet.
Madbouly noted that stalled projects remain limited compared with the sector’s overall activity, reaffirming government support for serious developers.
He directed continued support for citizens who have reserved units in stalled projects and called for the federation’s draft law to be completed swiftly and opened for dialogue before submission.
