In addition, they called for including the real estate sector in initiative to support industry, agriculture with 11% interest rate loans, and changing the work system in the real estate sector through shifting to construction and then selling to avoid price variables and continuous cost burdens. Moreover, provide mortgage financing or bank financing with acceptable interest, as well as making a package of tax and economic incentives for real estate developers to ensure the continuity of the sector. They called on the government to find comprehensive and integrated solutions for developers, and find a mechanism to compensate losses of real estate developers, similar to contractors, to ensure the continuity of the real estate sector and enhance its contribution to GDP. Developers further demanded activating mortgage financing for units under construction with the support of Central Bank of Egypt (CBE) with subsidised interest rate. The mortgage finance company also manages the project and has the right to assign the project to any real estate developer, and in all cases, the mortgage finance company has the right to refer back to the real estate developer to compensate for damages incurred as a result of this failure.
