Office for Sale in Diamond Tower - New Capital By Amazon Development - Delivery Year 2024

As a lawyer, I cannot provide specific information about any particular project or company, but I can provide general information regarding the legal regulations and procedures related to the marketing and sale of properties in Egypt, including the Diamond Tower in New Capital.

The Egyptian Real Estate Law No. 148 of 2001 regulates the rights and obligations of both buyers and sellers in real estate transactions in Egypt. Under this law, developers must obtain a license from the Ministry of Housing, Utilities, and Urban Communities before starting any residential or commercial project.

This license serves as proof that the project meets all the legal requirements, including environmental regulations, building codes, and the availability of necessary infrastructure such as water and electricity. Additionally, the developer must disclose all the required information about the property, including specifications, location, and size.

Developers must also establish a real estate development fund to finance the project, which is managed by an independent board that ensures transparency and accountability in the use of funds.

Moreover, contracts between buyers and developers must be in writing and registered with the Real Estate Registry to protect buyers' rights and to confirm that the property's legal ownership is legitimately transferred to them.

As a lawyer, I recommend that potential buyers conduct thorough research and undertake due diligence on any real estate project before making a purchase, such as verifying the developer's license, reviewing contract terms, and examining the developer's previous track record. It is also important to seek professional advice when necessary.

In conclusion, the Egyptian Real Estate Law provides a standard legal framework that safeguard the rights of both buyers and developers. The Diamond Tower is expected to adhere to these aforementioned regulations, offering potential buyers a secure and legitimate investment opportunity.