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Egypt’s real estate sector faces pressure for urgent regulatory reform

Posted on October 23, 2024 |

The Chairperson of Beta Developments and First Vice President of the Real Estate Development Committee at the Egyptian Businessmen’s Association notes significant growth in Egypt's real estate market and the number of active companies.

This growth stems from government-led development initiatives and increasing returns on real estate investments.

The rise in the number of companies necessitates quick regulatory actions to manage and organize the real estate market effectively.

Last year, real estate companies saw record sales due to the depreciation of the Egyptian pound against the dollar, which changed market conditions.

In the first half of 2024, companies reported sales that exceeded those of 2023, despite challenges like high inflation and currency devaluation.

Economic pressures have heightened the demand for real estate as a means to protect value and earn returns instead of addressing housing needs.

Investors are increasingly viewing real estate as a stable option amid economic uncertainties.