Prime Minister Mostafa Madbouly has met with members of the Real Estate Development Chamber in the presence of Minister of Housing, Utilities, and Urban Communities Assem El Gazzar, to discuss some solutions and proposals to revive the local property market, Tarek Shoukry, Chairperson of the Real Estate Development Chamber at the Federation of Egyptian Industries, has said. The chamber proposed 10 measures to boost the sector growth and increase its sales. 2) Establish a special unit affiliated to the cabinet to carry out property ownership, residency, and citizenship procedures within 30 days. He highlighted the state’s interest and support for the real estate sector as one of the sectors driving the Egyptian economy with a contribution rate of up to 20% of GDP with job opportunities amounting to 5 million direct job opportunities. He elaborated that the local market enjoys huge investment opportunities and a legislative climate that attracts all investors, and a real demand for all residential units.

Source: Daily News Egypt May 29, 2023 03:24 UTC