Cairo –6 October 2026: Eng. Ahmed Abu Zeid, Chairman of Uptown 6 October Group, called for the draft real estate development law, currently being discussed under the title of the “Real Estate Developers’ Union Law,” to be reframed, stressing that the real legislative challenge goes beyond establishing or regulating a professional body for developers and requires an integrated legislative framework governing the real estate market, all of its stakeholders, and the relationships between them.
Abu Zeid said: “Referring to the proposed legislation as the Real Estate Developers’ Union Law does not reflect the full scope of the issue or the scale of the challenges facing the market. We do not need a law that regulates a single professional entity; we need an integrated law that governs Egypt’s real estate market and the wider real estate ecosystem.”
He explained that Egypt’s real estate market has undergone significant developments in recent years, including changes in project models and financing mechanisms, the expansion of off-plan sales and digital marketing, as well as the growing participation of investors and Egyptians living abroad. These developments, he noted, require the legislative framework to evolve in line with market changes while clearly defining the rights and obligations of all stakeholders.
He added: “When we talk about real estate development, we should not limit the discussion to the relationship between the developer and the buyer. There is an integrated ecosystem that begins with land, licensing, and financing, and includes the developer, contractor, subcontractors, consultant, supplier, broker, marketing companies, digital platforms, banks, property management and maintenance companies, and ultimately the buyer or investor. All of these relationships require clear and balanced rules.”
Abu Zeid emphasized that the real estate sector represents one of the key drivers of the Egyptian economy due to its direct links with a wide range of sectors and economic activities, including construction, engineering industries, building materials, transportation, financing, employment, trade, tourism, and professional services.
He noted that any weakness in regulating the market does not affect developers or buyers alone, but also extends to contractors, suppliers, banks, employment, and other stakeholders connected to real estate activity.
He said: “The real estate legislation we need should be regarded as economic and development legislation of the highest importance. It should establish stable yet adaptable rules for a sector closely linked to investment, employment, asset creation, urban development, and the attraction of both local and foreign capital.”
Abu Zeid called for the new law to include an integrated regulatory framework covering the registration and classification of developers according to objective criteria, project and phase approvals prior to advertising or contracting, and disclosure of the legal, financial, and technical status of projects, in addition to regulating off-plan sales and protecting buyers’ funds.
He also called for the regulation of project accounts and escrow accounts, the introduction of a model contractual framework setting out the minimum rights and obligations between developers and buyers, and the regulation of relationships between developers, contractors, consultants, and suppliers. He further highlighted the need for a clear framework for licensing and regulating real estate brokerage, intermediary activities, and marketing companies.
Abu Zeid stressed the importance of regulating real estate advertising and digital platforms, limiting misleading information, establishing early-warning and intervention mechanisms for distressed projects, regulating maintenance, property management, and occupants’ associations, improving dispute resolution and grievance mechanisms, and supporting digital transformation and real estate tokenization in a way that also strengthens Egypt’s ability to expand its real estate export market.
He explained that escrow accounts, or independent project accounts, represent an important tool for protecting buyers’ funds and strengthening financial discipline at the project level, but stressed that they should form part of an integrated legislative and supervisory framework.
He said: “Escrow accounts are important, but they are only part of the solution. Effective protection also requires financial and technical disclosure, developer classification, monitoring of construction progress, oversight of contractor dues, an early-warning system, and a clear mechanism for intervention and dealing with distressed projects.”
He also highlighted the importance of introducing a model contractual framework between developers and buyers that defines the basic information, rights, and obligations that must be included in contracts, while allowing developers to add provisions reflecting the nature of each project or unit, provided that such provisions do not conflict with the law or undermine buyers’ rights.
He added: “Introducing a model contractual framework does not mean imposing a single rigid contract on all projects. Rather, it ensures that every contract includes a clear minimum level of rights and obligations that protects both parties while preserving the flexibility required to reflect the nature of different projects.”
Abu Zeid also stressed the importance of managing escrow accounts through licensed banks and linking disbursements to construction progress, project timelines, and approved reports, in accordance with clear and well-defined standards that leave no room for ambiguity. This would ensure the required level of protection without limiting access to bank financing or compromising the rights of buyers and contractors.
He further emphasized that regulating the real estate market cannot be complete without a clear framework governing brokerage, intermediary services, marketing, and real estate advertising, given their direct influence on the relationship between developers and buyers.
He explained that regulation should cover licensing and operating requirements, disclosure of commissions and potential conflicts of interest, and clear responsibility for the accuracy of information provided to clients. It should also establish rules governing advertisements and digital platforms and prevent the promotion of unapproved projects or the publication of inaccurate or misleading information.
Abu Zeid welcomed the inclusion of digital transformation tools within the proposed legislative framework, including real estate tokenization, distributed electronic records, blockchain technologies, and electronic escrow accounts, given their potential to increase transparency and improve the traceability of data and transactions.
At the same time, he stressed that these tools must operate within a clear legal and regulatory framework, saying: “Real estate tokenization and blockchain can help identify properties and improve the traceability of data and funds, but they should not replace official property registration or independently create ownership rights or rights in rem enforceable against third parties. Technology is a tool for developing the ecosystem, not a substitute for the law.”
Abu Zeid also emphasized that the call for an integrated law to regulate the market is not intended to eliminate the Real Estate Development Chamber or diminish the role of chambers, unions, and professional associations. He highlighted the importance of these entities in representing their members’ interests, providing studies and recommendations, contributing to legislative dialogue, supporting training, and improving professional practices.
He said: “There must be a clear distinction between professional representation on the one hand, and regulation and supervision on the other. Chambers and unions represent the sector and contribute their views and proposals, while the state or the competent independent regulatory authority should be responsible for approving projects, protecting the market, and enforcing regulations and penalties.”
The Chairman of Uptown 6 October Group also called for broad legislative and community dialogue involving government and regulatory authorities, Parliament, developers, contractors, brokers, buyers, investors, and experts, including representation from the Consumer Protection Agency, with the aim of reaching a balanced legislative framework that protects all market participants without restricting investment, supports serious developers, and preserves competition within the market.
Abu Zeid concluded: “Egypt has one of the largest real estate markets in the region and significant opportunities to strengthen its position as a regional hub for real estate development and property exports. Achieving this requires a more transparent, integrated, and adaptable ecosystem. Reconsidering the scope of the proposed law is therefore not simply a matter of terminology, but reflects the need to move from legislation focused on a single professional entity to an integrated law governing the real estate market as one of the key drivers of the Egyptian economy.
The Chairman of Uptown 6 October Group also called for broad legislative and community dialogue involving government authorities, regulators, Parliament, developers, contractors, brokers, buyers, investors, and industry experts in order to develop a balanced legislative framework that protects all market participants without restricting investment, while supporting serious developers and maintaining healthy competition.
Abu Zeid concluded: “Egypt has one of the largest real estate markets in the region and significant opportunities to strengthen its position as a regional hub for real estate development and property exports. Achieving this requires a more transparent, integrated, and adaptable system. Reconsidering the scope of the proposed law is therefore not simply a matter of terminology, but reflects the need to move from legislation focused on a single professional entity to an integrated law governing the real estate market as one of the key drivers of the Egyptian economy.