Aqar Exit Founder Blasts Real Estate Developers for Stalling Contract Transfers to Push New Inventory
Dr. Mahmoud Ammar, founder of the real estate platform 'Aqar Exit,' has spotlighted a growing crisis in Egypt's real estate resale market, criticizing certain developers for deliberately obstructing unit transfer procedures despite the presence of ready buyers willing to assume the financial and contractual obligations.
In a recent Facebook post, Ammar revealed that some developers are freezing assignment (resale) processes, forcing clients to wait until the developers sell their own newly launched inventory first.
'So, what do we do with real estate developers who halt transfers and tell you to wait until they sell their new stock?' the Aqar Exit founder asked. He questioned the mechanism to handle such cases and pondered whether it would be appropriate to publicly 'name and shame' the stalling companies, stressing that this gridlock leaves financially distressed buyers facing a compounding crisis.
**Distressed Buyers Caught Between Installments and Exits**
These remarks arrive amid surging interest in the real estate secondary market, driven by a growing segment of buyers who can no longer afford to meet the remaining installment plans for their units.
According to data published by Aqar Exit covering the period from August 8 to September 5, 2026, the platform recorded approximately 9,839 assignment files. The number of units listed or under review reached 5,045, with an estimated market value of EGP 72.2 billion, compared to their original contract value of EGP 53.6 billion. The total volume of units offered on the platform has now surpassed 7,500, with a combined value exceeding EGP 115 billion.
While these figures do not represent the entirety of the Egyptian real estate market, they strongly indicate the massive demand within the contract assignment sector.
**Why Are Clients Opting for Transfers?**
The assignment model revolves around transferring an existing contract to a new buyer. The original client exits their obligations, while the new buyer assumes the remaining installments under the original terms and the developer's procedures.
The primary goal is not necessarily generating a profit margin (premium or 'overprice'), but rather allowing a distressed buyer to exit a financial commitment they can no longer fulfill. Aqar Exit regulates these transactions by vetting unit data and contracts, offering units strictly at the original contract price without any markup from the seller.
**'The Distressed Buyer Absorbs the Damage'**
Ammar argues the core issue arises when a distressed client finds a willing buyer but is blocked from finalizing the transfer by the developer's stance.
'They don't care about the law or anything else... and the distressed buyer is the one who suffers the damage,' he stated, expressing frustration over practices that trap clients. This adds to existing controversies over exorbitant transfer fees, which Ammar previously noted have caused several resale deals to collapse.
**Aqar Exit's Secondary Market Model**
The platform pioneers a secondary market for real estate contracts, matching exiting clients with new buyers looking for units at historical contract prices. The seller recoups their paid installments, and the new party takes over the original contract, with no commission charged to the seller by the platform.
Ammar previously noted that around 60% of sellers on the platform are willing to sell for less than their total paid amounts just to secure immediate liquidity and exit quickly.
**Does the Resale Market Need Clearer Regulations?**
Ammar's complaints underscore a broader debate regarding the mechanics of real estate assignments, the limits of developer control, transfer fees, and approval timelines. While developers are essential parties in executing these transfers, Ammar argues that facilitating a ready buyer is a far better solution for distressed clients than forcing them into default or contract cancellation.
Resolving this dilemma hinges on the specific contracts, project regulations, and the individual legal standing of each case. However, as the secondary real estate market expands rapidly, the demand for transparent, standardized transfer procedures becomes increasingly urgent.
Ammar stopped short of naming specific developers, nor did the developers issue immediate clarifications regarding the delays, leaving the door open for companies to clarify their operational stances.