{"id":543839,"date":"2022-02-21T04:23:57","date_gmt":"2022-02-21T04:23:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/real-estate-brokers-could-face-tighter-regulation-under-new-bill\/"},"modified":"2022-02-21T04:23:57","modified_gmt":"2022-02-21T04:23:57","slug":"real-estate-brokers-could-face-tighter-regulation-under-new-bill","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/real-estate-brokers-could-face-tighter-regulation-under-new-bill\/","title":{"rendered":"Real estate brokers could face tighter regulation under new bill"},"content":{"rendered":"

<\/a> The next time you move, it could be through a registered simsar \u2014 with set fees: <\/strong>The House of Representatives\u2019 Economic Affairs Committee has given preliminary approval to amendments to the law regulating real estate brokerage, Al Mal<\/a> reports. The changes would set up a registry for licensed brokers and regulate their fees, among other moves to professionalize the largely informal sector.<\/p>\n

The changes:<\/strong> The proposed amendments would require brokerages to register their businesses electronically, and set rules for their activities, the fees they charge and how those fees are collected, Al Bawaba<\/a> quoted Trade Minister Nevine Gamea as saying during the session. Brokers that violate the regulations could face penalties.<\/p>\n

Next steps: <\/strong>The House will continue discussions of the bill in today\u2019s plenary session, Youm7<\/a>reports. The amendments will need to get final approval from the House before making their way to President Abdel Fattah El Sisi to be ratified into law.<\/p>\n

Also on today\u2019s docket: The so-called \u201cold rent law,\u201d<\/strong> according to Al Shorouk<\/a>. The bill, which was signed off<\/a> on by the House Housing Committee last month, would \u2014 if passed \u2014 allow landlords to evict government agencies, public and private companies, embassies, and other entities leasing properties under the old rent system within five years of its being signed into law.<\/p>\n","protected":false},"excerpt":{"rendered":"

The next time you move, it could be through a registered simsar \u2014 with set fees: The House of Representatives\u2019 Economic Affairs Committee has given preliminary approval to amendments to the law regulating real estate brokerage, Al Mal reports. The changes would set up a registry for licensed brokers and regulate their fees, among other […]<\/p>\n","protected":false},"author":1,"featured_media":543840,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[995,72,274,187,994],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-commercial-agencies-law","tag-enterpriseam","tag-house-of-representatives","tag-legislation-watch","tag-real-estate-brokerage","wpautop","entry"],"acf":{"mongo_id":"6ac7b012-92d5-47a4-8dec-c8700ba74982","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/295.jpg","photo_position":"above","related_issue":[543829],"teaser":"","voice_url":""},"yoast_head":"\nReal estate brokers could face tighter regulation under new bill - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/real-estate-brokers-could-face-tighter-regulation-under-new-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real estate brokers could face tighter regulation under new bill\" \/>\n<meta property=\"og:description\" content=\"The next time you move, it could be through a registered simsar \u2014 with set fees: The House of Representatives\u2019 Economic Affairs Committee has given preliminary approval to amendments to the law regulating real estate brokerage, Al Mal reports. 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The changes would see an electronic registry set up for licensed brokers, set rules for their activities, regulate the fees\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/77.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545869,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/14\/real-estate-brokers-prepare-for-regulatory-scrutiny\/","url_meta":{"origin":543839,"position":1},"title":"Real estate brokers, prepare for regulatory scrutiny","author":"enterpriseam admin","date":"14 April 2022","format":false,"excerpt":"Real estate brokers are now set to face more regulatory scrutiny after President Abdel Fattah El Sisi ratified amendments to the law regulating commercial and real estate brokerage, according to a decree published in the Official Gazette (pdf) yesterday. The changes would see an electronic registry set up for licensed\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/255.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544987,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/30\/house-approves-early-bonuses-raises-for-state-employees-and-pensioners\/","url_meta":{"origin":543839,"position":2},"title":"House approves early bonuses, raises for state employees and pensioners","author":"enterpriseam admin","date":"30 March 2022","format":false,"excerpt":"The House of Representatives has approved a law that expedites public sector wage hikes and pension increases, an urgent measure announced last week to soften the economic impact of the Ukraine war, Ahram Online reports. The bill brings forward the new remuneration rates by three months, meaning that they will\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/701.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560513,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/02\/its-back-to-the-drawing-board\/","url_meta":{"origin":543839,"position":3},"title":"It\u2019s back to the drawing board","author":"enterpriseam admin","date":"2 March 2021","format":false,"excerpt":"Amendments to the Real Estate Registry Act are now suspended for at least two years under directives from President Abdel Fattah El Sisi, according to an Ittihadiya statement. The two-year freeze is meant to allow time for public consultations on the legislation and the introduction of an alternative to the\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/60.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568334,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/","url_meta":{"origin":543839,"position":4},"title":"No real estate tax exemption for industry, but maybe a rate cut","author":"enterpriseam admin","date":"27 December 2020","format":false,"excerpt":"Factories will not be getting the real estate tax exemption they have been vying for, but could instead see a significant reduction in their property tax dues under a new draft bill the finance and trade and industry ministries have drafted, the local press reports, citing unnamed government sources. The\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/437.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560625,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/of-tax-breaks-and-loopholes\/","url_meta":{"origin":543839,"position":5},"title":"Of tax breaks and loopholes","author":"enterpriseam admin","date":"7 March 2021","format":false,"excerpt":"The loophole that gave tax breaks to state institutions investing in government debt is now officially closed after President Abdel Fattah El Sisi ratified a bill that repealed an income tax exemption on income derived from treasury holdings, Al Mal reports.Background: The bill, which was proposed by the Finance Ministry\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543839"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543839\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543840"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543839"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543839"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}