The Egyptian real estate sector is looking for investment opportunities in the Russian and African markets

Investment opportunities in Egypt have not ended in all economic sectors in general, and in the real estate sector in particular. However, contracting companies and real estate developers in Egypt are always looking for investment opportunities abroad, with the encouragement of the state, in order to bring in hard currency, which has become the most prominent challenge facing the largest... A country in the region in terms of population.

Saudi market

Egyptian real estate companies have recently penetrated the Saudi market, through several agreements and memorandums of understanding, to build smart and sustainable cities, in light of the “Kingdom’s Vision 2030”, in addition to the presence of some Egyptian real estate companies in European markets such as Switzerland and Montenegro, while targeting new markets during the period. Coming.

Given the many experiences that Egyptian real estate companies have acquired over several years, experts and analysts in the sector recommended targeting the Russian and African markets during the coming period, given the investment opportunities these markets enjoy, which may bring dollars to Egypt and maintain the pace of profit growth for companies.

Attracting profitable real estate investment opportunities

Most of the experts participating in a roundtable event entitled: “The Role of Government Incentives in Attracting Profitable Real Estate Investment Opportunities,” in cooperation with the Egyptian Businessmen Association, and organized by “Investgate,” agreed to find a mechanism for sales outside Egypt in foreign currency, whether to Egyptians abroad or foreigners, and to issue Legislation regulating those dealing with the real estate sector, as applicable in Dubai. While facilitating coordination between private companies and the government in the field of Egyptian citizenship for property buyers.

Buying real estate in foreign currency

The participants also recommended the importance of “having a mechanism that allows refugees residing in Egypt to purchase real estate in foreign currency, facilitating regulatory procedures to increase the number of companies registered on the stock exchange, and offering shares to increase capital.” With the speedy work on activating the real estate stock exchange and real estate investment funds, and providing banks with a mechanism that allows financing to the foreign client. And searching for new markets for real estate investment, such as: the Russian market and African markets.”

Participating in the round table were Fathallah Fawzi, Vice President of the Egyptian Businessmen Association, Walid Abbas, Vice President of the New Urban Communities Authority for the Planning and Projects Sector and supervisor of the Office of the Minister of Housing, Mohamed Selim, Director of the Research Department and Supervisor of Risks and Indicators at the Egyptian Stock Exchange, and Ahmed Shalaby, President. Executive and Managing Director of Tatweer Misr and Chairman of the Egyptian Real Estate Council, Hisham Shukry, Chairman of the Real Estate Export Council, Representative Imad Saad Hamouda, member of the Housing Committee in the House of Representatives, and Mohamed Al-Taher, CEO of the Saudi Egyptian Development Company.