Deyaar Construction and Development has called for greater transparency in Egypt’s real estate market through the disclosure of the full cost of property ownership, enabling buyers to assess their financial commitments before signing contracts.
Hany Farag, chairperson of Deyaar Construction and Development, said buyers should have access to comprehensive information covering all expenses associated with purchasing, receiving and occupying a property.
“A life-changing decision deserves a complete cost breakdown,” Farag said, stressing that evaluating a property should go beyond its advertised price to include total payments, instalment schedules, handover specifications, finishing costs, maintenance fees and service charges.
He also called for a clear distinction between fixed expenses and estimated costs that could change over time, noting that differences in specifications, services and payment plans make comparisons between projects difficult without consistent disclosure standards.
Farag said providing complete information from the outset would help families plan their finances more effectively and enable investors to assess potential returns on a realistic basis.
“Transparency is part of a property’s value,” he said, adding that clear disclosures strengthen buyers’ confidence and allow developers to demonstrate the actual quality and advantages of their projects.
As part of efforts to improve disclosure practices, Farag proposed providing prospective buyers with a financial and technical summary for each unit before contracting. The document would detail the unit’s area and specifications, payment and handover schedules, ownership and usage expenses, and the calculation of variable charges.
“The customer is committing to financial obligations that may extend over several years, and has the right to understand them from day one,” Farag said.
He added that clearer disclosure could strengthen contractual relationships, reduce disputes over specifications and additional expenses, and encourage competition based on value rather than advertised prices alone.
Farag concluded that transparency should begin before contracts are signed, emphasising that responsible real estate development requires quality products, accurate information and clear commitments.
“Trust begins before the contract is signed,” he said.
