Experts: Brotherhood’s Fall Unveils Land Allocation Legal Law in Egypt

A number of real estate experts have pointed out to the probability of the continuation of political situation to many risks especially regarding the current scenarios if the revolution will able to the departure of Dr. Mohamed Morsi, Egypt’s President and take off Muslim Brotherhood regime, as many experts and chairmen of companies have feared toward their projects which have been established over the last year.

Many experts have emphasized that land allocation files, facilities and exemptions which the country has put them inside investors will lead to the obstruct of real estate movement again.

Mamdouh El- Waly, Chairman of Broad Directors of El-Waly Reconstruction and Development company, has asserted that by the fall of brotherhood rule, all the closed files will be reopened  in Morsi’s era, all the decisions which taken by the government  in the last year will be studied including enable investors file, the size of lands which have been allocated by the Ministry of Housing foreign investors.

El-Waly added that in case of re-evaluation of legal land allocation in Morsi’s era, the real estate sector will halt again and this will affect real estate investments  movement during the next phase.