Deyaar Construction and Development has called for greater transparency in Egypt’s real estate market through the disclosure of the full cost of property ownership, enabling buyers to assess their financial commitments from contract signing through handover and occupancy.
Hany Farag, Chairman of Deyaar Construction and Development, said buyers should have access to clear, comprehensive information that supports informed purchasing decisions and strengthens trust between developers and customers.
“A life-changing decision deserves a complete cost breakdown,” Farag said, stressing that buyers need a full picture of the financial obligations associated with a property before signing a contract.
He explained that evaluating a real estate opportunity should go beyond the advertised unit price to include the total amount payable, payment schedules, handover specifications, finishing costs, maintenance fees and service charges. He also called for a clear distinction between fixed expenses and estimated costs that may change over time.
According to Farag, differences in handover specifications, services and payment plans can make comparisons between projects difficult unless buyers have a consistent basis for evaluating what they will receive against what they are expected to pay.
He added that access to complete information from the outset enables families to plan their finances more effectively and allows investors to assess potential returns on a more realistic basis.
“Transparency is part of a property’s value,” Farag said, noting that clear disclosures give buyers greater confidence in their choices and allow developers to demonstrate the actual quality and advantages of their projects.
As part of efforts to improve disclosure practices, Farag proposed providing prospective buyers with a clear financial and technical summary for each unit before contracting. The document would cover the unit’s area and specifications, payment and handover schedules, and expenses associated with ownership and use, alongside an explanation of how variable charges are calculated.
“The customer is committing to financial obligations that may extend over several years, and has the right to understand them from day one,” Farag said, adding that a sound relationship between developers and buyers begins with accurate information and clearly defined expectations.
He noted that adopting such practices could help strengthen contractual relationships, reduce misunderstandings over specifications and additional expenses, and encourage competition based on the value delivered to customers.
Farag concluded that transparency should begin before a contract is signed, emphasizing that responsible real estate development requires a quality product, accurate information and clear commitments that buyers can rely on when making their decisions. “Trust begins before the contract is signed,” he said.