Tuesday 22 Oct
Egyptian real estate development companies have recently turned their attention towards the Libyan market. This was evident during the recent visit organized by the Real Estate Development Chamber at the Federation of Industries, as part of an investment delegation from the Federation to explore the opportunities available in this promising market.
During the visit, the Egyptian
Federation of Industries signed memoranda of understanding with the Federation
of Chambers of Commerce, Industry, and Agriculture in Tripoli and Benghazi Libya,
with the aim of facilitating the participation of Egyptian companies in the
reconstruction of Libya and benefiting from the expertise that Egyptian
companies possess in various specializations in the reconstruction process.
According to Counselor Osama Saad
El-Din, Executive Director of the Real Estate Development Industry Chamber,
Egyptian developers have promising expertise in implementing integrated urban
communities, which is what Libya needs in the reconstruction phase, such as the
implementation of new cities and integrated urban projects.
He pointed out that Egyptian
companies have a unique opportunity to replicate their successful project
models in Libya. These companies have proven their expertise in developing new
cities in partnership with the Egyptian government. Given the strong economic
and historical ties between Egypt and Libya, Egyptian firms can more easily
establish themselves in the Libyan market.
Additionally, the reconstruction efforts in Libya present a significant opportunity for Egyptian companies to export building materials. This nearby and large market can boost Egypt's construction industry. Furthermore, the presence of Egyptian workers in Libya for many years demonstrates their skills and capabilities.
