Real Estate Development Chamber adds 764 new member companies in 2025
2026-03-08 - 18:23
The General Assembly of the Real Estate Development Chamber at the Federation of Egyptian Industries held its meeting on Wednesday to review the chamber’s performance and key developments in Egypt’s real estate sector. The chamber’s board of directors, chaired by Tarek Shoukry, reviewed its achievements during 2025, along with the financial statements and final accounts for the 2024–2025 fiscal year for approval. The meeting also discussed pressing issues facing the sector and the chamber’s plans for 2026, which aim to build on recent progress while addressing challenges faced by developers and supporting further investment in the real estate market. Members of the General Assembly commended the board’s efforts over the past year and during its previous term, particularly in navigating the economic pressures affecting the sector. Shoukry, who also heads the Economic Affairs Committee at the House of Representatives of Egypt, said the chamber continues to develop practical solutions and maintain open dialogue with its members to support the real estate sector, protect clients’ interests, and encourage developers to expand while adhering to project timelines. He noted that the chamber’s strategy during the previous term contributed to significant membership growth, with 764 new companies joining as permanent members in 2025. This brought the total number of permanent members to 2,480 by the end of the year. Shoukry added that the chamber held several meetings and dialogue sessions with the Ministry of Housing, Utilities and Urban Communities and senior officials during 2025 to address challenges facing the sector. These discussions led to a number of facilitations for developers, including extending a 15% reduction on land instalment interest for an additional year, from May 2025 to May 2026. The ministry and the New Urban Communities Authority also approved granting developers and landowners in new cities a six-month grace period on instalment payments to support project implementation. Additional measures included allowing a 10% increase in building areas as compensation for rising construction costs and permitting the conversion of residential, administrative or commercial units into hotel rooms without additional fees. The government also extended the validity of operating licences for administrative buildings to five years instead of one year, while maintaining annual reviews of the relevant regulations. In addition, developers were allowed to register land for projects that have reached at least 80% completion, providing greater financial flexibility. Shoukry also pointed to Ministerial Decree No. 773 of 2025, issued on 26 August, which sets average construction costs per square metre in cities affiliated with the New Urban Communities Authority to regulate licensed construction and determine building permit fees. Under the decree, the cost was set at EGP 1,400 per square metre in Greater Cairo, Alexandria, and some areas along the Cairo–Alexandria Desert Road; EGP 1,000 per square metre in other governorates excluding Upper Egypt; EGP 800 per square metre in Upper Egypt governorates; and EGP 300 per square metre for buildings in villages. Among other decisions, the interest rate on instalments for North West Coast fees and desert road improvement charges was fixed at 10%, while completed projects and previously sold land were exempted from these fees. The chamber also participated in establishing two new units under the New Urban Communities Authority: the Real Estate Market Regulation Unit and the Real Estate Export Unit, aimed at increasing developer participation in decision-making. In addition, the preliminary activation of the national real estate platform was announced to allow companies to begin initial registration. Shoukry concluded that the chamber will continue working to support developers, address challenges facing the sector, and introduce practical solutions to ensure sustainable growth in Egypt’s real estate market.