Egypt’s upcoming legislative agenda will prioritise a series of laws aimed at regulating the real estate sector and addressing gaps in the current legal framework, according to Amin Masoud, Member of Parliament and Deputy Chair of the Housing Committee.
Speaking at the Association of Real Estate Developers (arD) summit, Masoud disclosed that the Housing Committee is actively reviewing the Occupants Union Law to strengthen market discipline. He stated that coordinating the relationship between developers, clients, and regulatory authorities is essential to balancing the interests of all stakeholders.
The legislator highlighted the real estate industry as a primary driver of national economic growth, noting that approximately 60% of related industries and activities are tied to the sector. Despite this, Masoud noted that the industry receives comparatively little government support, particularly after facing challenges from global crises such as the COVID-19 pandemic and the Russian-Ukrainian war, which led to sharp price increases and currency fluctuations.
Regarding current regulations, Masoud addressed updates to the Building Violations Reconciliation Law. He explained that recent amendments now grant the Prime Minister the authority to extend reconciliation periods, providing greater flexibility to maximise the law’s effectiveness.
To enhance state revenues and market competitiveness, Masoud advocated for the promotion of real estate exports. He called for the introduction of specific incentives for foreign investors, including the provision of residency or citizenship options.
The deputy chair stressed the importance of professional bodies, such as the Real Estate Developers Association, in proposing new legislation and collaborating with the government to implement practical solutions for the sector.
