Egyptian Prime Minister Mostafa Madbouli issued on Monday a decision that sets regulations for selling units of real estate development projects in order to ensure the rights of buyers.
Under the regulations, the project owner shall be committed to the timeframe provided for implementing the project or the phase in question.
The decision stated that it is not permissible to announce the sale of units in any project before its general outline is approved by the housing ministry.
It also banned the announcement of any new phase before ensuring that the project owner has adhered to the approved timeline for the previous phase.
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