$2.7 billion.. Arab investments in Egypt

The data of the monthly report of the Central Agency for Public Mobilization and Statistics revealed that the Arab countries topped the list of the largest source of inward investment flows during the first quarter of the year 2022/2023.

Arab countries top the list of the largest source of investment flow

The total inflows of Arab countries amounted to about $2.7 billion, or 40.3%, compared to $1 billion in the same quarter of the fiscal year 2021/2022, or 22.7%.

The data monitored a map of investment flows during the first quarter of the fiscal year 2022/2023, as investment inflows recorded about $1.9 billion, or 28.3%, compared to $1.6 billion in the corresponding quarter of the fiscal year 2021/2022, or 36.4%.

For the United States of America recorded investment flows by $500 million, or 7.5% of the total during that period, and the United Kingdom, by $500 million during the same period, or 7.5% of the total.

$10 billion foreign direct investment

Hossam Haiba, CEO of the General Authority for Investment and Free Zones, revealed that Egypt aims to achieve 10 billion dollars in foreign direct investment during the current fiscal year, after achieving about 9 billion dollars during the past year.

He pointed out that $4 billion was achieved during the first quarter of the fiscal year, and we seek to achieve $4 billion during the second quarter of the fiscal year.

Supreme Investment Council

Businessmen said that the government's establishment of the Supreme Investment Council will have a positive impact on the Egyptian economy, especially with regard to attracting foreign investments, considering this step important to overcome bureaucracy and create an investment climate in Egypt.

Egyptian market

An economic study estimated that the Egyptian market will attract $40 billion in private investment by 2026.

Share the good increase in tourist flow levels; increasing capital spending on infrastructure projects and tourist attractions.

The latest report entitled “Review of the performance of the real estate market in Cairo during the first quarter of 2023” by JLL stated that in the first quarter of 2023.

The current market supply of hotel rooms in Cairo remained stable at 28,000 rooms, and the Egyptian capital is expected to witness the completion of about 900 rooms during this year.

Support the housing market

The measures taken by the government aimed at supporting the housing market and boosting the country's strong domestic demand are likely to revive this sector in the coming years, according to the report.