(MENAFN – Daily News Egypt) Egyptian real estate developers have unanimously agreed that the intervention of a government agency, represented by the Egyptian Consumer Protection Agency (CPA), must come with specific mechanisms and controls.
The agency’s role would be to control the local real estate market between developer and consumer.
Real estate developers also emphasised the need for coordination with the CPA in setting those controls that give consumers their rights in a way that does not incriminate real estate developers.
The CPA was established by Law No 67 of 2006, with the aim of safeguarding consumer rights and interests in any exchange of goods or services. The law was amended by Law No 181 of 2018, which added a new role to the CPA that would allow them to control real estate products complaints.
The Consumer Protection Law gives the CPA the right to intervene in anything related to