The House of Representatives’ Housing Committee is planning legislation that would see the government reprice contracts with developers on real estate projects signed prior to the float, Al Borsa reports. The committee has not yet settled on a rate, but is leaning towards a 15% increase in the contracts’ value, said the committee’s legal counsel Khalid Abdel Aziz. He added that the committee is still exploring whether to amend the Auctions and Tenders Act or draft a new law. Naturally the law was welcomed by the Contractors Association of Egypt, which not only lobbied hard for the law, but is apparently joining in drafting the new legislation, said the association’s head Hassan Abdel Aziz. As we noted last week, the Ismail cabinet has apparently approved forming a committee to look into repricing government contracts following the float, heeding multiple calls by varying industries.