Member of the Real Estate Investment Division: The real estate sector is the biggest beneficiary of joining BRICS
Egypt's acquisition of membership in the BRICS Development Bank group would allow Egypt to obtain financing to implement its development projects on better terms and facilities away from the restrictions of the World Bank Group and the International Monetary Fund.
Shrouq
Engineer Hussein Dawoud, a member of the Real Estate Investment Division, confirmed that Egypt's official accession to the "BRICS" group of countries represents a strong step to eliminate the dominance of the dollar over the global economy, and a good opportunity towards restoring the balance of the global economy.
Engineer Hussein Daoud added that the real estate sector will be the biggest beneficiary of this global gathering, because it includes nearly 40% of the world's population, which contributes greatly to increasing the investments of these countries in the real estate sector inside Egypt.
He said that Egypt's acquisition of membership in the BRICS Development Bank group would allow Egypt to obtain financing to implement its development projects on better terms and facilities away from the restrictions of the World Bank Group and the International Monetary Fund.
Consumer market
He stressed that the BRICS alliance includes the largest consumer market representing about 40% of the world's population, and alone controls nearly 20% of the global trade movement, and therefore Egypt can reach trade agreements that allow it to penetrate the markets of those countries on better terms and thus increase its exports and improve the balance deficit.
On the other hand, Engineer Hussein Dawoud, President of Style Home Real Estate Investment Company, stressed that the real estate sector will remain among the safest sectors, as it is called the "safe vessel for investment" for Egyptians, especially in times of crisis. This year and last year, despite many challenges, including the Corona crisis, high inflation rates and land prices, in addition to the repercussions of the Russian-Ukrainian crisis, which affected the costs and prices of building materials such as iron and cement.
Foreign investments in the Egyptian market
He added that foreign investments in the Egyptian market rose to about $7.3 billion during the last period, due to the state's pumping of national projects and infrastructure, pointing out that these investments contribute to the transfer of technological expertise, in addition to modernizing and developing the industry to meet global developments that occur in various fields. In general, so that Egyptian real estate can compete in global markets, in addition to security stability, which helped stimulate foreign investment and encouraged investors to put large sums of money into the Egyptian market.
National projects
He emphasized that the national projects brought about a quantum leap in the Egyptian real estate market and contributed to raising development rates inside Egypt, pointing out that the establishment of national projects helps greatly in supporting the Egyptian economy, as the Egyptian state relies on two aspects of development within Egypt's Vision 2030, which are national projects and support Entrepreneurship and small and medium enterprises, there is support from the state on both sides during the current period.
