Egyptian Real Estate Revenues Largest in the World
When are the average people going to start seeing a positive impact from all this money going around?
As per Daily News Egypt, the Minister of Housing, Utilities, and Urban Communities, Mostafa Madbouly, reported that, despite the economic turmoil being experienced throughout the country, the real estate market has remained stable. Most notably, the last two years have seen huge strides, making the Egyptian real estate market the biggest in the world in comparison, said Madbouly during his speech at the Elite Real Estate Exhibition.
“The Egyptian market is currently receiving many requests for investment whether these be partnerships or individual businesses in the real estate market,” Madbouly continued. ”The government will call on local and Arab investors to participate in its mega projects in Cairo and El-Alamein during the next few months.”
The Minister also mention that President Sisi himself is pushing for aggressively pursuing investment for the New Administrative Capital and other new city projects.