The aim of this paper is to examine the dividends policy determinants in real estate, property, and building construction companies listed on the Egyptian Stock Exchange (EGX) over the period 2012-2020. The study utilizes panel data analysis.  The model will be tested by three statistical analysis methods which are: (1) Panel least squares regression which provides a useful benchmark, (2) two-step generalized methods of moments (GMM) to control for endogeneity, and (3) dynamic GMM in first differences to correct for any omitted variables. The results showed that there is a positive and significant relationship between dividends policy and each of the firm profitability, firm financial leverage and firm liquidity. While, there is a negative

 and significant relationship between the dividends policy and the firm life cycle. The results provide a thorough understanding of the effects of firm-specific factors on corporate dividends decisions in the Egyptian market.