Egypt establishes committee to deal with land sales issues

In an attempt to boost confidence among real estate investors, the Egyptian government has established a committee to look into issues relating to the sale of land and property in the country.

According to a report in PropertyWire, one of the main areas of focus for the panel will be the price at which land was sold under the regime of former president Hosni Mubarak.

There are claims that certain sites were offered at a low price to Egyptian developers, which has caused problems among foreign companies hoping to enter the country's real estate market.

An official from the committee told the publication that they are trying "to reach a fair settlement by which investment will be safe and the contract respected and at the same time give the government and country their rights".

Confidence in Egypt's property sector has been shaky since the revolution in February this year ousted the incumbent leader.

Mr Mubarak and many of his government officials have since been arrested - and some of them charged with corruption.