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Government, real estate developers can cooperate to preserve real estate market in face of health crisis
Developers to reduce marketing, construction costs during crisis by 50%-75%, says Aqarmap
El-Gazzar met with a number of investors and developers on Thursday to review the current status of their projects in the 10th of Ramadan City.
Full real estate sector recovery expected in one year, though less sales expected due to crisis says Degheady
The amendments aim to minimise tax liability on factory owners and encourage certain productive sectors and strategic services.
Construction work has not stopped despite Covid-19 outbreak with projects remaining on schedule, say developers
El Shehry added that the local real estate market remains, so far, unaffected by the ongoing pandemic. He highlighted that, although there had been a slowdown in sales, companies have yet to record losses or a halt in sales.
As for the sites in the projects, Fekri elaborated that the company provided antiseptics and masks to workers, and a list of instructions for preventing the virus spread followed by periodic follow-up of workers.
The Egyptian real estate market mainly relies on domestic demand, therefore, no harm is expected on the industry, they explained.
Chairperson and Managing Director of Orientals for Urban Development (OUD) Asser Hamdy said that the general developer model were successful in some new cities, such as Marsa Alam, but they require the availability of required customer services.
Branded residences most attractive for foreigners
The first expo will take place in March, he said, adding that another event will be organised every quarter in 2020.
The amendments would allow more flexibility in the funds’ investment policies by solving some problems faced in this type of funds. The suggested amendments were discussed in community dialogue sessions managed by the FRA with such funds’ representatives.
Company will probably complete marketing The MarQ’s second phase in 1Q2020, says board member
Towards more innovative, competitive real estate market, role of general developer in market
NUCA is one of the biggest agencies attracting investments in Egypt, whether foreign or local
Company launches Capital One project in new capital with EGP 2bn investments
Real Estate Development Chamber to form a committee for property export, says chamber deputy head
EGP 600m in pre-sales for exhibitors at the IPS Riyadh
Moreover, the most prominent issues the market faced last year was liquidity and low purchasing power. Real estate stakeholders expect that it will be one of the challenges that will face the market in the new year due to high prices of services with fixed wages.
Abbas told Daily News Egypt that there was no specific land allocated for the fund as of yet, but the ministry provides them with investment opportunities and technical support for real estate projects.
The boost is supported by four main elements, the launch of the Central Bank of Egypt (CBE) for the real estate financing initiative for middle income of EGP 50bn, the fall in the price of the dollar against the Egyptian pound, the raising of the credit limit, and payment facilities made by real estate developers.
2H19 to be stronger, driven by new project launches toward the end of the year
Real estate companies’ portfolio reaches about 15% of the total corporate credit portfolio in the bank and exceeds EGP 10bn to 800 clients: Abo Zikry
SMEs portfolio increased to EGP 3bn: Azzam
40% of Egypt’s area is eligible for urban development, the challenge is their distance to resources, says El-Gazzar
HSBC Economics Team remain positive on its view on the economic outlook for Egypt
The company has sold its first and second phases with total sales approaching EGP 350m, according to Amr Assaf, chairperson of Insight Real Estate.
Ain Sokhna is the most attractive area for tourism and industrial investment in 2019, says Inland Properties
Hotel sector in Cairo reached highest performance levels in over 11 years: JLL