By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    We work with Tax Authority to control prices, support consumers: Philip Morris Misr
    We work with Tax Authority to control prices, support consumers: Philip Morris Misr
    September 25, 2023
    Mahmoud Mohieldin says global finance reform needed for just green transitions
    Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
    September 24, 2023
    FRA to launch voluntary carbon market with 6 local projects
    FRA to launch voluntary carbon market with 6 local projects
    September 24, 2023
    Dreny & Partners advises on 14 securitised bonds issuances worth EGP 26bn
    Dreny & Partners advises on 14 securitised bonds issuances worth EGP 26bn
    September 24, 2023
    blinx: New digital media hub for Middle East’s youth
    blinx: New digital media hub for Middle East’s youth
    September 24, 2023
  • Politics
    PoliticsShow More
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
    Egypt, India affirm their strategic partnership, discuss regional issues
    Egypt, India affirm their strategic partnership, discuss regional issues
    September 24, 2023
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Sovereign fund for real estate sector to be launched soon: planning minister
Share
Notification
Latest News
Defence Minister meets NATO Military Committee chief
Defence Minister meets NATO Military Committee chief
Egypt Politics
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
Business
Mahmoud Mohieldin says global finance reform needed for just green transitions
Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
Business
FRA to launch voluntary carbon market with 6 local projects
FRA to launch voluntary carbon market with 6 local projects
Business
Dreny & Partners advises on 14 securitised bonds issuances worth EGP 26bn
Dreny & Partners advises on 14 securitised bonds issuances worth EGP 26bn
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Real Estate > Sovereign fund for real estate sector to be launched soon: planning minister
Real Estate

Sovereign fund for real estate sector to be launched soon: planning minister

Shaimaa Al-Aees
Last updated: 2018/03/04 at 9:16 PM
By Shaimaa Al-Aees 2 Min Read
Share
SHARE

Minister of Planning Hala Al-Saeed said that the state has a keen interest in the idea of establishing a sovereign fund. The ministry has reached the final stages in this regard, she said, after many visits to several countries to discuss with them and access agreements for the principles of the law. A proposed bill is now with the cabinet for review.

Al-Saeed added, at the Builders of Egypt Forum, that investment in this type of fund needs a strong infrastructure to attract other international funds through its investments.

The minister pointed out that the Egyptian economy has already begun to reap the benefits of reform in the second half of 2017. Growth rates started to rise again to reach 5.3% during the current quarter, compared to 3.6% in the same period last year, which represents a large growth rate, she said.

Al-Saeed said that real estate and construction sectors are the main ones driving growth. The construction sector contributed 17.7% to the economic growth rate last year, she said. In addition, it has provided jobs directly and indirectly as a result of its interrelationship with many industrial sectors and mining, which contributed 3.7 million jobs during the past three years, thus contributing to the provision of employment for 20% of the total workforce, making it a leading sector in providing employment.

She noted that the private sector is the main partner in achieving development, especially in the field of infrastructure construction and the establishment of networks of roads, bridges, airports, ports, and logistics, which contribute to attracting more investments.

“The value of investments in infrastructure at the level of the governorates amounted to EGP 800bn during the last three years, including public investments estimated at EGP 400bn. The government intends to increase this by 20% over the next year,” Al-Saeed said.

You Might Also Like

Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity

Emirati Businessman Alabbar seeks to acquire state-run real estate company in Egypt

Dorra Group: A Legacy of Excellence and Innovation in Real Estate

Property Guarantee: Popular and innovative mortgage financing programme

Talaat Moustafa Group, Colin’s partner to open 3 branches in San Stefano, Madinaty

TAGGED: Hala Al-Saeed, Minister of Planning, Real Estate
Share this Article
Facebook Twitter Email Print
Previous Article Egypt on track to build 120,000 homes in new capital project
Next Article The world has become more accepting of violence: former foreign minister
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Defence Minister meets NATO Military Committee chief
Defence Minister meets NATO Military Committee chief
Egypt Politics
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
Business
Mahmoud Mohieldin says global finance reform needed for just green transitions
Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
Business
FRA to launch voluntary carbon market with 6 local projects
FRA to launch voluntary carbon market with 6 local projects
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?