{"id":669156,"date":"2025-07-29T00:00:00","date_gmt":"2025-07-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/29\/egyptian-businessmens-association-push-back-against-worrying-real-estate-regulatory-changes-in-letter-to-pm\/"},"modified":"2025-07-29T00:00:00","modified_gmt":"2025-07-29T00:00:00","slug":"egyptian-businessmens-association-push-back-against-worrying-real-estate-regulatory-changes-in-letter-to-pm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/29\/egyptian-businessmens-association-push-back-against-worrying-real-estate-regulatory-changes-in-letter-to-pm\/","title":{"rendered":"Egyptian Businessmen\u2019s Association push back against \u201cworrying\u201d real estate regulatory changes in letter to PM"},"content":{"rendered":"

\u201cThe real estate market has witnessed worrying developments that threaten<\/strong> appetite to invest in the industry,\u201d<\/strong> the Egyptian Businessmen\u2019s Association (EBA) said in a letter to Prime Minister Moustafa Madbouly seen by EnterpriseAM. Referring to a recent decision<\/a> by the Madbouly government to impose new levies on land owned by developers on the Cairo-Alexandria Desert Highway and North Coast, the association added that the new levies also \u201cimpact the trust built over many years between the state and investors in this vital sector.\u201d<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

ICYMI- <\/strong>Developers recently received surprise letters from the New Urban Communities Authority demanding levies, which included an \u201cimprovement fee\u201d for developers who own land or projects going back up to 7km on either side of the desert road to pay up to EGP 1.5k per sqm, a 10% transfer fee on North Coast projects in the event that the land owner is not the real estate developer, and a three-month deadline for non-compliant developers to obtain the required construction licenses or lose rights to use the land.<\/p>\n

The surprise fees have led to \u201ca state of concussion and anxiety among investors and <\/strong>developers<\/strong>,\u201d the EBA argues. The association said the decision to impose an \u201cimprovement fee\u201d on desert road projects as a retroactive decision \u201ccontradicts the principles of stable investment policies.\u201d It also described the decision to calculate the North Coast transfer fee based on current assessed land value \u2014 and not the price at the time of purchase or contracting \u2014 as \u201cdoubling unexpected burdens.\u201d The three-month deadline to sort out construction licenses was also critiqued for not \u201ctaking into account the complex timeline for issuing decisions and licenses, especially given well-known bureaucratic challenges.\u201d<\/p>\n

The EBA called for the changes to only apply to future projects<\/strong>, so as to shield existing and underway projects from the retroactive decisions. The association talked up its support for efforts to regulate the real estate market and called for a meeting between developers, relevant ministers, and other officials to \u201ccontain the situation before its effects on the sector worsen.\u201d<\/p>\n

\n

IN OTHER REAL ESTATE NEWS- <\/p>\n

#1- NUCA is looking to bump the price per sqm at which it offers land <\/strong>in its next sale of ready-to-deliver residential plots in some 20 governorates, Al Arabiya<\/a> reports, citing what it says are officials at the New Urban Communities Authority.<\/p>\n

#2- Our friends at <\/strong>SODIC launched the<\/strong> first overseas branch of Michelin-recognized <\/strong>Portuguese restaurant <\/strong>Cavalari\u00e7a at its North Coast project June<\/strong>, the real estate developer said in a statement (pdf)<\/a>. The move is part of SODIC\u2019s broader push into lifestyle and hospitality, joining Dubai\u2019s Surf Club and Nobu projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

The surprise fees have led to \u201ca state of concussion and anxiety among investors and developers,\u201d argues the Egyptian Businessmen's Association<\/p>\n","protected":false},"author":1,"featured_media":669157,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[72,879,2074,83,312],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-669156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-enterpriseam","tag-new-urban-communities-authority","tag-north-coast","tag-real-estate","tag-sodic","wpautop","entry"],"acf":{"mongo_id":"88ab835d-b0c5-4afb-b429-0d1c18cb1543","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/751.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian Businessmen\u2019s Association push back against \u201cworrying\u201d real estate regulatory changes in letter to PM","related_issue":[669151],"teaser":"The surprise fees have led to \u201ca state of concussion and anxiety among investors and developers,\u201d argues the Egyptian Businessmen's Association","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.dead752b-b958-4f9f-aa9a-3e07f09d58fa.mp3"},"yoast_head":"\nEgyptian Businessmen\u2019s Association push back against \u201cworrying\u201d real estate regulatory changes in letter to PM - 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