Regulatory Alerts2014-01-01
Law No. 55 of 2014 Amending Certain Provisions of the Real Estate Financing Law and the Law Issued by It No. 148 of 2001
The President of the Arab Republic of Egypt issued Law No. 55 of 2014 to amend the Real Estate Financing Law No. 148 of 2001, centralizing regulatory oversight under the General Authority for Financial Supervision and redefining key financing terms and activities. The legislation mandates that all real estate financing entities operate as Egyptian joint-stock companies, establishes a dedicated Real Estate Financing Support and Guarantee Fund to subsidize low-income housing, and imposes strict capital, reporting, and merger approval requirements. Furthermore, it grants financiers flexibility in pricing, standardizes financing agreements with fixed installment formulas, and empowers the regulatory authority to enforce compliance through warnings and sanctions.