Madbouly made the remarks while reviewing a proposed draft law on the Egyptian federation of real estate developers during a meeting attended by Minister of Housing, Utilities and Urban Communities Randa el Menshawy and senior officials in the state. The prime minister said Egypt is already taking steps to regulate the real estate market, adding that the proposal to establish the union aims to create a single professional umbrella for the urban development sector.
He explained that the federation would unify various entities under a clear legislative framework to regulate a rapidly expanding market driven by the increasing number of real estate development projects and the growing participation of the private sector. During the meeting, the housing minister reviewed the procedures and steps taken by the ministry to prepare the draft law establishing the federation.
She noted the ministry had held a number of preliminary meetings with relevant ministries, government bodies, and industry specialists to discuss emerging challenges in the real estate market and proposed solutions to address them. Menshawy said the proposed law aims to strengthen investor confidence by establishing a regulated professional federation that would help resolve disputes, classify developers, and enhance market transparency.
The legislation would introduce a unified classification system for developers based on the size of their projects, financial capacity, and operational capabilities. It would also protect market participants by raising professional standards and safeguarding those contracting with developers through more disciplined regulations, while supporting urban development and expanding opportunities for the private sector as the state continues to develop new urban communities.
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