The size of Sudanese investments in Sudan’s real estate sector amounts to $30bn, according to the Sudanese Constructors Association’s Chairman, Malik Dongula.
Dongula added that the Association’s participation in the Arab Construction and Projects Forum conference, held Sunday, is to gain experience of Egypt’s experience in the construction field. It is also to negotiate on cooperation opportunities in real estate investments in Sudan.
“We are hoping to sign Memorandums of Understanding (MoUs) in real estate investments in Sudan, as we are going to present a paper about investment opportunities and the situation of the real estate sector in Sudan”, Dongula said. “The paper will present the proposals for roads and building on POT system, besides the available privileges granted by the government for real estate investors.”
Sudan’s real estate market can compete with the Egyptian one, although Sudan cannot currently start investments in Egypt due to the Sudanese market’s not having the same potential as the Egyptian market.
Investing in one metre of land in the real estate sector costs approximately $200, which is high compared to the current capacities, according to Egyptian Prime Minister Ibrahim Mehleb.
Dongula added that Sudan welcomes any Egyptian or regional companies interested in investing in the construction field. He added that the Arab Contractors company had some investments in Sudan, but it has exited this market due to the decrease in the Sudanese pound.
In addition, business related to Egypt’s Sawiris family was established in Sudan, although they also exited from the market after doing business and also profiting.
“We are currently trying to solve some business problems so that we participated to make use of the presence of some Arab countries to start negotiations on opening business in Sudan,” he concluded.