New capital: Prime Minister Mostafa Madbouly emphasized the government's strong commitment to regulating the real estate market and enhancing its governance mechanisms, identifying the sector as a key pillar of the national economy.

According to State Information Service Egypt, Madbouly's remarks were made during a meeting at the government headquarters in the New Capital, attended by key officials including Minister of Housing, Utilities and Urban Communities Randa El-Menshawy and Deputy Housing Minister for Urban Communities Walid Abbas. The meeting focused on measures to regulate the real estate market, ensuring its growth and stability.

Madbouly highlighted the importance of maintaining growth rates within this vital sector and addressing challenges to ensure governance and discipline. The approach aims to balance the rights of all stakeholders, including the state, real estate developers, and citizens who reserve housing units. He emphasized the need for sustainable practices to protect the sector from unregulated activities.

Randa El-Menshawy presented a draft law focused on the governance and regulation of the real estate development sector. This includes establishing an official entity for real estate developers, classified according to specific standards and regulations. The initiative is part of the state's efforts to enhance the investment climate and safeguard citizens' rights.

The Minister outlined the proposed organizational structure for the developers' entity, modeled after the Egyptian Federation for Construction and Building Contractors. This includes mechanisms for classifying developers based on defined criteria. Menshawy also noted that the New Urban Communities Authority has strict contracts and regulations to address violations by developers, ensuring the rights of both the state and citizens.

Menshawy further explained that specific regulations would prevent financially or technically unqualified developers from entering the market. This ensures adherence to delivery schedules and avoids delays that could damage the sector's reputation. The measures aim to balance the rights of the state, clients, and serious developers, while ensuring the sustainability of investments in this crucial industry.