Last Night’s Talk Shows: Real estate prices on the rise + CPA doesn’t like car salesmen
Is new-build real estate about to get even more expensive? Property developers could hike house prices by 10-15% due to the rising cost of raw materials, Tarek Shoukry, head of the Real Estate Development Chamber at the Federation of Egyptian Industries (FEI), told El Hekaya’s Amr Adib (watch, runtime: 12:58). The real estate sector is directly exposed to rising raw materials prices such as cement and iron, which saw an 80% price hike since the beginning of the year, he said.
No one is safe: Developers will raise prices even on properties which have already been sold to customers (but not delivered), Shoukry said. Some who are still waiting for their units to be delivered will face higher installments in the coming months as companies pass on the costs to the consumers.
The Consumer Protection Authority fights the “overpricing” of cars: The Consumer Protection Authority has issued a decision requiring car dealers to be more transparent in how they price their vehicles in an effort to stop consumers from being overcharged. From 15 November, dealers will be required to clearly display the cost on the car with a sticker, which the authority hopes will make it harder for them to inflate prices, CPA head Ayman Hossam El Din told Kelma Akhira (watch, runtime: 6:03).
The opening day of TransMea 2021 also got its fair share of airtime: Al Hayah Al Youm (watch, runtime: 3:10), Ala Mas’ouleety (watch, runtime: 3:09) and Kelma Akhira (watch, runtime: 3:02) all covered the inauguration of the transport conference yesterday.