Al-Sisi Directs Tight Monitoring of Real Estate Developer Contracts in Egypt
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Egyptian President Abdel Fattah Al-Sisi has ordered strict monitoring of real estate developers' contractual commitments and promised legal action against any party that fails to deliver units within agreed timelines.
Egyptian President Abdel Fattah Al-Sisi has issued directives to closely monitor real estate developers' compliance with contractual commitments, a move industry leaders say could strengthen market discipline, protect buyers, and enhance confidence in the sector.
Al-Sisi directed continuous and accurate monitoring of developers' adherence to contracts signed with citizens, particularly regarding unit delivery schedules and the implementation of infrastructure and utility works associated with real estate projects.
He also ordered a comprehensive review by relevant state authorities of real estate project contracts with developers to ensure they fulfil their commitments to customers within agreed timelines. The President stressed that legal action should be taken against any party that has received funds from citizens without fulfilling its contractual obligations within the specified deadlines.
"I will be firm on this matter," Al-Sisi said, stressing that the state would not overlook citizens' rights. The directives came as part of broader presidential calls for stronger government oversight, enforcement of the law, and greater accountability across sectors.