Pound flotation, signing of IMF loan agreement to contribute to reviving real estate investment: Coldwell Banker

Daily News Egypt
1 Min Read
The real estate sector’s growth opportunities in Egypt are very large, despite challenges, says Tarek Bahaa, marketing and sales director of EIG Inc.

Chairperson of Coldwell Banker, Mohammed Abdullah, said that the flotation of the national currency and the signing of the loan agreement with the International Monetary Fund (IMF), as well as initiating the economic reform programme will contribute to the growth of the Egyptian real estate sector.

He added, during a conference entitled Sustaining the Real Estate Industry in Egypt by the American Chamber of Commerce, that the sector is nominated to grow by 30% annually.

He noted that the real estate sector has been seeing changes that support its position as a risk-free investment in light of the exchange rate volatility.

Abdullah said that the Egyptian market can still accommodate new companies that can provide added-value to the sector.

He pointed out that demand for high-end housing units is growing, amid increasing demand for commercial and administrative units.

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