Egypt sets up real estate oversight unit to curb market manipulation

Egypt’s ministry of housing said on Tuesday it has set up a new unit to monitor and address malpractice in the real estate sector, vowing tougher action against attempts to manipulate the market.

The unit, established under the New Urban Communities Authority (NUCA), will coordinate directly with central departments and regulators to resolve investor and developer complaints, remove obstacles, and fast-track solutions, the ministry explained in a statement.

It will also hold regular meetings with developers, issue reports on violations, and propose new policies or legislative changes aimed at strengthening transparency and improving the investment climate.

The ministry has launched an official WhatsApp hotline (+20 114 055 4000) to allow developers to submit complaints and inquiries directly.

Minister of Housing Sherif El-Sherbiny said the new body reflects the government’s determination to safeguard the market. “We will not tolerate any illegal practices or attempts to manipulate the real estate sector,” he said.

Egypt’s real estate industry is a key driver of investment and growth, but recent concerns over unlicensed brokers and opaque practices have weighed on the sector, prompting the government to tighten oversight.

Attribution: Amwal Al Ghad English