Egypt is seeking to reform the real estate sector, making it more attractive for foreign investment. In particular, an initiative is being considered to create a government agency that will deal with organizational issues related to attracting foreign investors.
Abdel Moneim El-Said, director of the Cairo Center for Economic and Strategic Studies, believes that with proper structuring, the real estate market can bring the country from 10 to 15 billion dollars a year at the expense of buyers from abroad.
This statement paints a promising picture for the economy, provided that a clear policy to support the sector is developed.
According to El Said, measures should be aimed at regulating the industry, increasing the transparency of contracts, creating ready-made facilities that meet the needs of foreigners, and maintaining statistics.
Source: The Pinnacle Gazette
