Hanna Karam

Hanna Karam: Urban development and the legislative climate are attractive factors for Emirati investments in the Egyptian market

Hanna Karam, the Regional director of Reportage Real Estate Company, stressed that the size of the physical development currently taking place in Egypt and the inauguration of a generation of new cities, in addition to the implementation of huge infrastructure projects, are all factors that support the appeal of the Egyptian market for various investments from all Arab countries, which were foremost of which were Emirati investments in the Egyptian real estate sector.

The Egyptian real estate market was characterized by a strong and genuine demand for all housing segments and by a gap between supply and demand that made the need for more real estate projects implemented by real estate developers necessary.

The construction sector was one of the most important economic sectors that reflected the progress of countries and their vision of development, and it had succeeded in achieving positive growth rates during the past four years for Egypt, thus protecting the Egyptian economy in times of crisis.

The construction and construction sector contributed to high rates of growth and employment, supported by a surge in national projects adopted by the President of the Republic, His Excellency President Abdel Fattah El-Sisi, and the implementation of a generation of new cities, primarily the new administrative capital, the Suez Canal Development Project and the National Road Project.

He added that the choice of UAE investments for presence in the Egyptian real estate market depends on several factors, most notably the existence of modern infrastructure.

He continued that the Egyptian economy reached strong growth rates despite the Corona crisis, which are rates that the major countries were unable to achieve during the same period, which reflects a clear vision for the government to deal with the crisis, and the continuation of construction and development no matter the size of the challenges, which are factors attractive to any foreign investment.

It noted that the legislative climate, with its continuous changes, has become one of the main catalysts for attracting foreign investment to the Egyptian economy in all economic sectors, including the real estate sector.