EGP 200 billion .. Real estate investments in Egypt
Real estate activity witnessed a great boom during the last period due to the expiry of the 18% certificates, whose deposits were transferred to real estate investment.
Shrouq
Eng. Abdullah Essam, a real estate expert, said that the real estate export market worldwide trades $300 billion annually, half of which are real estate funds and the second half are individuals or small investors.
He confirmed in televised statements that real estate prices have increased 40% since the beginning of the year, certainly a candidate for new increases.
Abdullah Essam continued that, real estate activity witnessed a great boom during the last period due to the expiry of the 18% certificates, whose deposits were transferred to real estate investment.
He mentioned that real estate sector companies in Egypt acquire large investments amounting to 200 billion pounds nationwide, which represents about 20% of the total economy.
Essam explained that the rates of stagnation in the construction market exceeded 90% due to the unjustified rise in the prices of building materials.
Abdullah Essam stated that the new administrative capital succeeded in attracting foreign investments, explaining that the demand for the new administrative capital reveals the extent of the country's success in establishing new cities.
He Pointing out that there are several axes in order to increase the volume of real estate exports represented in the existence of solutions for the ability to increase production and reduce the size of the construction cost, which caused the recent rise in the prices of real estate units.
In light of the high exchange rate and the high prices of building materials such as iron and cement.
The reason for the interest of investors in the new administrative capital:
1- The administrative capital is a capital, not a residential city, as it is the capital of a state that is being built to become a capital parallel to Cairo, the capital of Egypt, built more than 1,000 years ago.
2- The new tourist capital, the administrative capital was built targeting all the elements needed to build a new ideal republic in all respects and to match the rest of the governorates of Egypt, even at the tourism level.
3- City of records, the administrative capital includes the iconic tower, which is the tallest in Egypt and in the entire African continent. The Administrative Capital will also include the largest district of towers in the entire Egyptian Republic. In addition to the fact that it already has the longest flagpole in the whole world with a length of 185 meters and has already entered the Guinness Book of Records.
4- Typical infrastructure, more than 100 billion Egyptian pounds have been invested in infrastructure only, excluding public utilities.
5- Investing in a sustainable city, The New Administrative Capital is considered a sustainable city, as it is covered from 60% to 70% of it with solar energy cells to provide clean energy, guarantee renewable energy, reduce polluting emissions, and reduce electricity bills.
6- green capital, designing a green industrial and commercial city was an indispensable goal in order to create an ideal mix that provides the largest possible production capacity.
7- The financial and business district, the construction of the financial and business district has begun with investments amounting to about 3.5 billion dollars. The project will include a number of commercial and administrative towers, in addition to financial and investment institutions and an area designated for local and foreign banks.
