Market

Fathallah Fawzy, Vice President of the Egyptian Businessmen Association and Head of the Construction and Building Committee:

Ashraf Tawfik

Egyptian real estate is characterized by being the cheapest in the region and the price per square meter in the capital Administrative 1500 dollars

Marketing Egyptian real estate in the surrounding countries contributes to attracting hard currency


Egypt has the ability to compete and obtain A share of the global real estate export volume

Real estate registration is one of the most important obstacles facing the process of exporting Egyptian real estate

Eng. Fathallah Fawzy, Vice President of the Egyptian Businessmen Association and Head of the Construction and Building Committee, said that Egypt is witnessing a renaissance. Unprecedented urbanization during the last 7 years, especially in light of the state, represented by the Ministry of Housing, inaugurating a new city, headed by the administrative capital. And the new Alamein and Mansoura.

Fawzi added, in a telephone interview to the “Li Bani Misr” program, broadcast on Radio Egypt, that h The development in the Egyptian real estate market has become significant at the present time. Because of the state’s expansion in offering attached lands to investors, which led to the reduction of unplanned urban sprawl and the elimination of slums. He stressed that the Egyptian real estate is characterized by being the cheapest in the region, as the price per square meter in the Administrative Capital reaches 1500 dollars, which is equivalent to 25 approximately one thousand pounds, and it is offered by the best real estate companies in it, with international specifications in finishing works, and in the surrounding areas it ranges between 4 and 5 thousand dollars, referring to the price per square meter in the towers area in the new city of Alamein ranges between 2000 and 2500 dollars, while its price per square meter reaches 7 thousand dollars, in areas such as Beirut, Jeddah and Dubai, in addition to Egypt’s moderate climate throughout the year. He pointed out that marketing Egyptian real estate in the surrounding countries contributes to attracting hard currency to Egypt; This is something that is required at the present time, pointing out that Egypt enjoys a moderate climate throughout the year, especially in areas bordering the coasts, including the Red Sea, New Alamein and the North Coast region, noting that some citizens of the Gulf countries, especially Saudi Arabia, prefer to own real estate in the Greater Cairo area. And the administrative capital.

The Chairman of the Construction and Building Committee emphasized the presence of some major real estate companies in the Red and Mediterranean Bahrain. It offers distinguished real estate products that enable us to enter new investors into Egypt by purchasing real estate, in addition to its presence in the eastern and western regions of Cairo due to the provision of good products at reasonable prices and with excellent finishing quality, and it is considered the cheapest in the region as a whole.
Fathallah Fawzy said, if the real estate product in Egypt is compared with neighboring countries such as Greece, it assures us that Egypt has strong competitiveness in the region and obtaining a strong share of the volume of real estate export worldwide, stressing that one of the most important obstacles facing the process of exporting real estate is the difficulty of real estate registration, but the government has begun to take serious steps And a fact in solving this problem, after the arrival of the new law to the House of Representatives to discuss it officially.

Fathallah Fawzi, that the discussion of the real estate month law will be completed and its coming to light in the near future, after the state announced the period of completion within a year at the latest, noting that the participation of the state and investors in foreign markets is not only in the Gulf countries but also includes the countries of Europe. By holding foreign exhibitions to familiarize the citizens of these countries with the Egyptian real estate closely, pointing out that the country will participate next month in the MPIM exhibition 1500, which is scheduled to be held externally. 2500
He hinted that the state’s decision earlier, when providing an opportunity for non-Egyptians to own property in Sharm El-Sheikh, managed to attract a large number of Egyptians Foreign citizens to buy there, proposing that the Egyptian state provide investment opportunities in the areas of Hurghada and Marsa Alam, in front of major real estate companies to provide good products that were able to attract foreign buyers.