Housing Minister Randa Al-Minshawi Reviews Draft Law Establishing the Egyptian Federation of Real Estate Developers
Eng. Randa Al-Minshawi, Minister of Housing, Utilities, and Urban Communities, convened a high-level meeting to review the latest developments regarding the draft law establishing the Egyptian Federation of Real Estate Developers. The initiative aligns with the ministry’s vision to formulate necessary regulatory mechanisms and legislative frameworks for the local property market. The session was attended by several senior officials from the ministry and the New Urban Communities Authority (NUCA).
Eng. Randa Al-Minshawi emphasized that the draft law comes as part of the Ministry of Housing’s commitment to regulating a rapidly expanding property market. Amid the massive acceleration of real estate projects and the increased participation of the private sector, she noted that a clear professional and regulatory framework is essential to keep pace with this growth.
The Housing Minister explained that the real estate sector stands as a vital cornerstone supporting the national economy, currently undergoing an unprecedented urban boom. This shift, she added, demands an integrated legislative ecosystem capable of balancing the protection of consumer rights, maintaining market stability, and stimulating the property investment climate.
Discussing the Draft Law and Real Estate Development Regulations The meeting focused on analyzing the proposed draft of the law, reviewing its various articles and provisions. The draft bill aims to standardize the rules governing real estate development activities, curb unregulated market practices, and protect buyers' rights by establishing effective conflict-resolution channels and reinforcing contractual compliance.
Furthermore, the draft law aims to fortify investor confidence in the property market by deploying a transparent classification system for real estate developers and creating professional registries designed to enhance transparency and corporate governance within the sector.