For the last decade, Egypt has taken measures to attract foreign investment in the urban development and real estate investment sectors by offering tax incentives and facilities to foreign investors.
The country is developing mega projects, including New Alamein City and New Administrative Capital, to provide new job opportunities and increase investments.
These measures have helped strengthen the Egyptian economy and achieve sustainable growth.
In the past nine years, urban development and real estate sectors have contributed to economic growth at a rate of 60%.
According to Mohamed Rashid, a Real Estate Development Chamber member at the Federation of Egyptian Industries, the country’s infrastructure – roads, bridges, ports, sewage networks, and electricity – will also improve.
Additionally, social housing programs will be developed to meet the needs of low-income citizens, provide affordable housing units, and improve residents’ utilities and services.
The government plans to develop Egypt’s urban development sector further and enhance its role in achieving economic growth, such as developing new cities.
“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,” added Rashid.
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