{"id":545677,"date":"2022-04-07T04:00:32","date_gmt":"2022-04-07T04:00:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/"},"modified":"2022-04-07T04:00:32","modified_gmt":"2022-04-07T04:00:32","slug":"govt-eyes-more-support-for-contractors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/","title":{"rendered":"Gov\u2019t eyes more support for contractors"},"content":{"rendered":"

<\/a> The government could look into <\/strong>rescheduling debt payments<\/strong> for developers<\/strong>, Housing Minister Assem El Gazzar said after a sit-down with Prime Minister Mostafa Madbouly and real estate players yesterday, according to a cabinet statement<\/a>. The price of local building materials including steel and cement has soared<\/a> since the start of the Russia-Ukraine conflict, eating into contractors\u2019 margins and leading them to lobby for government support to help absorb the shock.<\/p>\n

Developers used the meeting to call for higher dumping fees<\/strong> on some building materials to bring market prices back into balance, saying that the negative impact of the devaluation, interest rate hike, and rising costs amid the war in Ukraine meant the sector needed \u201crapid intervention.\u201d They also called for the government to provide financing for private players and to allow for delays on the completion of all projects. Cabinet recently announced<\/a> that developers who fail to meet deadlines on state infrastructure projects will be exempt from fines for two months.<\/p>\n

A CPA crackdown on cement and steel price hikes in the works?<\/strong> Major cement and steel companies are being called in for an \u201curgent\u201d meeting with the Consumer Protection Authority to discuss the recent price jumps, Madbouly said. Steel prices have jumped to around EGP 19.9k\/tonne<\/a> from EGP 15.5k in recent weeks due to a significant rise in imported scrap metal prices, while cement went up by at least 10%<\/a>, currently sitting at EGP 1.4k\/tonne<\/a> following the war.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government could look into rescheduling debt payments for developers, Housing Minister Assem El Gazzar said after a sit-down with Prime Minister Mostafa Madbouly and real estate players yesterday, according to a cabinet statement. The price of local building materials including steel and cement has soared since the start of the Russia-Ukraine conflict, eating into […]<\/p>\n","protected":false},"author":1,"featured_media":545678,"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":[7371],"tags":[317,72,9683,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-commodities","tag-enterpriseam","tag-metal","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"aea1e159-928e-47af-babe-977dc5400530","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/160.jpg","photo_position":"above","related_issue":[545665],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t eyes more support for contractors - 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\/04\/07\/govt-eyes-more-support-for-contractors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t eyes more support for contractors\" \/>\n<meta property=\"og:description\" content=\"The government could look into rescheduling debt payments for developers, Housing Minister Assem El Gazzar said after a sit-down with Prime Minister Mostafa Madbouly and real estate players yesterday, according to a cabinet statement. The price of local building materials including steel and cement has soared since the start of the Russia-Ukraine conflict, eating into […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-07T04:00:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/160.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t eyes more support for contractors\",\"datePublished\":\"2022-04-07T04:00:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/\"},\"wordCount\":247,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/160.jpg?fit=%2C&ssl=1\",\"keywords\":[\"commodities\",\"EnterpriseAM\",\"metal\",\"real estate\"],\"articleSection\":[\"Real estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/\",\"name\":\"Gov\u2019t eyes more support for contractors - 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The exemption applies only to companies that have already obtained the required\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/311.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599036,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/17\/real-estate-afcon-dominate-the-airwaves\/","url_meta":{"origin":545677,"position":2},"title":"Real estate, Afcon dominate the airwaves","author":"enterpriseam admin","date":"17 June 2019","format":false,"excerpt":"Gov\u2019t keen on supporting real estate sector: Prime Minister Moustafa Madbouly\u2019s speech at the Benaa Misr forum was the highlight of Al Hayah Al Youm with Khaled Abu Bakr (watch, runtime: 03:01). Madbouly said that the government is keen on supporting the real estate industry and urged developers to work\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544851,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/price-fluctuations-dominate-our-airwaves\/","url_meta":{"origin":545677,"position":3},"title":"Price fluctuations dominate our airwaves","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"The airwaves were all about prices last night, as the impact of the state\u2019s policy decisions continues to unfold.First up, we have bad news if you\u2019re looking to buy a house: Property prices could increase by around 15-20% in the coming days due to an increase in the prices of\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575056,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/30\/your-top-infrastructure-stories-5\/","url_meta":{"origin":545677,"position":4},"title":"Your top infrastructure stories","author":"enterpriseam admin","date":"30 September 2020","format":false,"excerpt":"Your top infrastructure stories for the week include: Egyptian Refining Company\u2019s USD 4.3 bn Mostorod petrochemical refinery \u2014 the largest private sector project of its kind in Africa \u2014 was inaugurated this week.The deadline to settle with the government for illegal construction has been pushed to 31 October and buildings\u2026","rel":"","context":"In \"building code\"","block_context":{"text":"building code","link":"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577447,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/mps-approve-bills-on-telecoms-real-estate-contractors\/","url_meta":{"origin":545677,"position":5},"title":"MPs approve bills on telecoms, real estate, contractors","author":"enterpriseam admin","date":"23 November 2022","format":false,"excerpt":"Four bills get final nod in the House of Representatives: MPs yesterday gave final approval to a number of legislative amendments focused on regulatingtelecommunications, compensating contractors for losses on state contracts, and property registration in new cities. The final sign offs were the last before the House adjourned, with 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\/2022\/11\/355.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545677","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=545677"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545677\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/545665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/545678"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=545677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=545677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=545677"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=545677"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=545677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}