Thursday 03 Apr
Engineer Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour Developments, identified financing as the most significant obstacle facing the real estate sector at present.
Sabbour added that this challenge requires companies and the government to explore innovative financing solutions to enhance economic development in Egypt, which is witnessing unprecedented development momentum with the construction of more than 38 new cities, as well as numerous public-private partnerships.
Sabbour continued, stating that estimates indicate that the
size of the real estate market in Egypt has reached $1.45 trillion, reflecting
the importance of this vital sector that contributes 20% of the gross domestic
product.
He further stated that Egypt's real estate market has grown to $1.45 trillion, underscoring its pivotal role as a sector contributing 20% to the nation's GDP. Sabbour credited this expansion to the Egyptian government's initiatives in creating a favorable investment environment, enhancing infrastructure, and ensuring investment protection, which enhanced confidence between foreign investors and Egypt.
