Egypt is exploring strategies to promote real estate exports and stock trading

Mostafa Madbouly, the Egyptian Prime Minister, reviewed a number of proposals to promote the activity of exporting real estate.

It includes the establishment of a real estate fund from income-generating administrative and commercial assets, As well as the proposal to trade real estate in the Egyptian Stock Exchange, and the economic impact of the idea of establishing the real estate stock exchange, which will represent a platform that enables investors and real estate companies to buy and sell shares in real estate assets and invest in them, so that it is complementary to the traditional real estate markets, and provides opportunities for instantaneous trading and the most liquid investment in the real estate sector.

Ambassador Nader Saad, spokesman for the Presidency of the Council of Ministers, said that the meeting discussed the measures and steps taken by the committee formed to study mechanisms for exporting real estate abroad to save foreign exchange, as well as the legislative proposals that were prepared in this regard.

Export of real estate abroad

Saad explained that the meeting stressed the need to prepare a promotional campaign that contributes to increasing the export of real estate abroad, especially since the state has made great strides in setting incentives and facilities for foreigners to obtain real estate, including obtaining citizenship and residency.

Real estate trading

The Spokesman explained that the meeting discussed the distinguished international experiences in real estate trading, as well as the models of real estate stock exchanges in different countries, which can be used in the actual application of the Egyptian Real Estate Stock Exchange.

The meeting also discussed a proposal to hold meetings with Egyptian experts abroad specialized in real estate investment, to exchange views on everything related to this file.

The government is working on a plan to increase exports and facilitate real estate export procedures, explaining that in recent years, 40 new cities have been inaugurated, beside the new administrative capital in eastern Cairo, and these cities have added assets estimated at $500 billion to the Egyptian state's portfolio.

Real estate market

The real estate market is witnessing a great boom in supply, especially in areas such as the Administrative Capital, New Alamein, and the city of Galala. The volume of global transactions in the real estate export market exceeds 200 to 300 billion dollars annually, while Egypt's share in this market does not exceed 0.1%.

Undoubtedly, the idea of exporting real estate is in line with the excess supply in the local real estate market as a result of the high cost of production reflected in market prices, in addition to the real estate tax requirements, which is not compatible with the levels of effective demand for the largest segment of Egyptians.