{"id":600145,"date":"2019-01-21T04:32:30","date_gmt":"2019-01-21T04:32:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/"},"modified":"2019-01-21T04:32:30","modified_gmt":"2019-01-21T04:32:30","slug":"house-committee-to-approve-draft-law-to-regulate-real-estate-development","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/","title":{"rendered":"House committee to approve draft law to regulate real estate development"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- Housing Committee planning sweeping regulatory changes for real estate industry: <\/b>The House of Representatives\u2019 Housing Committeewill approve in one month\u2019s time a law to establish a federation for real estate developers and set up a fund to hedge against sector-related risks, committee Secretary Mohamed Ismail told Al Shorouk<\/a>. The committee is now reviewing the legislation, which would set up a state-sanctioned Egyptian Federation for Real Estate Developers. Al Mal <\/b>has a draft<\/b><\/a> of what it says is the current text of the proposed bill.<\/b><\/p>\n

The 84-article bill will introduce new licensing requirements for developers<\/b> and make the federation the primary licensing body. Developers found operating without a license will be subject to fines of up to EGP 1 mn. The insurance fund, meanwhile, will protect customers against a developer\u2019s failure to deliver units within a contractually specified timeline, among other risks. The fund will be backed by federation membership fees, property and project registration fees, premiums collected from insurance certificates, grants and donations. The House committee is also reviewing a bill that would amend the Real Estate Registry Act<\/b>, Ismail added.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Housing Committee planning sweeping regulatory changes for real estate industry: The House of Representatives\u2019 Housing Committeewill approve in one month\u2019s time a law to establish a federation for real estate developers and set up a fund to hedge against sector-related risks, committee Secretary Mohamed Ismail told Al Shorouk. The committee is now reviewing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[130,72,180,83,343,11338,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600145","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-construction","tag-enterpriseam","tag-legislation","tag-real-estate","tag-regulation","tag-sector-associations","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"9ec92f7e-8761-4464-b8e7-600bacc995fc","is_powered_by":true,"section_story_id":"1c7f857a-a535-47b0-aab8-26be750b39c2","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600136],"teaser":"","voice_url":""},"yoast_head":"\nHouse committee to approve draft law to regulate real estate development - 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\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House committee to approve draft law to regulate real estate development\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Housing Committee planning sweeping regulatory changes for real estate industry: The House of Representatives\u2019 Housing Committeewill approve in one month\u2019s time a law to establish a federation for real estate developers and set up a fund to hedge against sector-related risks, committee Secretary Mohamed Ismail told Al Shorouk. The committee is now reviewing […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-21T04:32:30+00:00\" \/>\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\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House committee to approve draft law to regulate real estate development\",\"datePublished\":\"2019-01-21T04:32:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\"},\"wordCount\":195,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"construction\",\"EnterpriseAM\",\"legislation\",\"real estate\",\"regulation\",\"sector associations\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/house-committee-to-approve-draft-law-to-regulate-real-estate-development\/\",\"name\":\"House committee to approve draft law to regulate real estate development - 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