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Egypt reviews $258 million proposals for real estate partnership deals

Egypt reviews $258 million proposals for real estate partnership deals

Posted on December 12, 2023   |  

The Egyptian government is currently evaluating partnership proposals valued at EGP 8 billion ($258 million) from real estate investors.

These offers, which include submissions from Saudi investors, are expected to undergo finalization in the initial quarter of 2024.

Proposed partnerships involve public business ministry-affiliated companies providing land, while investors will handle the development responsibilities.

A notable collaboration involves the Heliopolis Company for Housing and Development, a significant government housing entity.

In the fiscal year 2022/2023, Egypt's real estate sector ranked as the third-highest recipient of foreign direct investment (FDI) with a recorded total of $552.3 million.

Egypt aims to bolster its dollar reserves by selling real estate units in US dollars to foreigners and expatriates through collaboration with the private sector.



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