Al-Sisi orders review of real estate contracts in sweeping domestic directives
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Egyptian President Abdel Fattah Al-Sisi has ordered a comprehensive review of real estate contracts, warning developers who delay unit delivery or infrastructure will face legal measures.
President Abdel Fattah Al-Sisi has issued a raft of domestic directives aimed at improving living conditions, ordering immediate action on real estate accountability, electricity billing, market controls and traffic discipline during a speech on Monday at the Strategic Command headquarters in the New Administrative Capital.
Al-Sisi delivered a stern warning regarding the real estate sector, mandating close monitoring of contracts to ensure developers do not delay the delivery of units or the construction of associated infrastructure. He announced a comprehensive review by state agencies to ensure developers fulfil their obligations.
"I will be sharp on this matter," Al-Sisi said. "Anyone who takes money from people is obligated to execute the contract on time, and legal measures will be taken to protect citizens' rights."
The president also directed the Minister of Electricity and Renewable Energy to directly supervise billing to prevent arbitrary estimations and ordered measures to facilitate the payment of overdue balances. He instructed the Minister of Supply and Internal Trade to expand government sales outlets, mandating at least one outlet in every district nationwide.
Al-Sisi further ordered the government to prepare a comprehensive report detailing achievements, expenditures and results across all state sectors, to be presented at a conference scheduled for October with intellectuals, specialists and university professors.