Real estate investments in Egypt have increased by 30 percent in the first quarter of this year, according to Ibrahim al-Shawarby, member of the International Real Estate Federation.
Shawarby attributed the rise to measures taken by the government, such as extending deadlines for real estate companies building the national housing project for housing period and implementing urban projects in partnership with the private sector.
“Partnerships provide liquidity for companies to implement projects in a short time,” he said.
He also attributed it to the Central Bank funding projects for the youth during the economic conference of Sharm El-Sheikh last March.
But he said prices of residential units went up by 10-20 percent, especially in the satellite cities of Badr and Al-Shorouk, due to a rise in land prices by 35 percent from scarcity of land available for urban development.
