Ahmed Imam: The export of the property is the best solution to revitalize the sector during the coming period

Ahmed Imam, Managing Director and CEO of Amlak Finance Co. Egypt, said that the export of the property is the horse to boost the real estate sales movement in the next phase.

He added during a conference held by the American Chamber of Commerce entitled "The Frontier of Potential Change and Opportunities for Investment in the Commercial Real Estate Market" that there are several revenues aimed at stimulating the real estate export movement and selling them to foreigners residing in Egypt or Egyptians working abroad, namely providing hard currency to the country, increasing foreign reserves and also increasing the number of tourist nights for buyers to desire to exploit them throughout the year through frequent visits or inviting others to exploit them, and stimulating the Egyptian property industry and its labor-intensive production opportunities by opening Foreign markets.

The amendments to the laws adopted by the State, in particular the addition of a national figure for each unit, which would reflect all the unit's rights and obligations, and the new Registration Expenses Act would stimulate real estate exports.

Imam also added that the Egyptian property has special competitive capabilities, which is the low price compared to the competing countries in the region. The price of the Egyptian property represents only 30% compared to its counterparts. It is also characterized by the diversity of the exportable product between housing, administrative, commercial, health and education.