info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Daily News Egypt
The Egyptian real estate industry has always been a good area for Egypt's economic development, with growth rates of 11-12% over the past few years.
Investment from the 20 largest real estate companies in Egypt will reach US 39.14 billion in the next decade. In 2018, the investment will reach US 5.59 billion.
The most important mechanisms the developers addressed to revive real estate exports are including branding Egypt and the recently launched cities, as well as providing privileges to foreign clients encouraging them to purchase property which is competitive international markets, in addition to providing mortgage financing to foreign customers through specialised banks.
Ahmed Shalaby ,managing director and board member at Tatweer Misr, said that new and innovative mechanisms should be considered to support the private sector to export real estate.
He also added that "granting residency in return for purchasing property in Egypt is the first step."
Amr El-Kady, CEO of City Edge Developments, emphasised the importance of establishing a state body to boost property exports, which would be responsible for solving all the challenges facing this department.
Waleed Mokhtar, CEO of Iwan Developments, said that foreign investment funds are looking at the Egyptian experience in the real estate market before conducting business in Egypt, which requires great effort in that sector.
