The urban development and real estate investment sector in Egypt is one of the important sectors that contributed to the economic growth in Egypt in the past nine years, at a rate of more than 60%, according to Mohamed Rashid, a member of the Real Estate Development Chamber at the Federation of Egyptian Industries. These projects have created an urban and economic development shift, which has resulted in significant economic growth rates. Rashid noted that the government has taken measures to attract foreign investment in the urban development and real estate investment sectors, such as offering tax incentives and facilities to foreign investors. Rashid explained that the government has plans to further develop the urban development sector in Egypt. Rashid concluded: “These plans will aim to improve the investment environment, enhance economic growth in the urban development sector, and increase foreign investments in the sector, as Egypt has several factors that make it an attractive destination for foreign investments in the urban development and investment sector.”

Source: Daily News Egypt January 08, 2024 09:14 UTC