Eng. Ahmed Al-Wardani

Expected increase in real estate prices due to the Russia-Ukraine war

The Russia-Ukraine war has cast a shadow over the real estate sector, where real estate prices are expected to increase significantly in the next few days due to the high prices of building and construction inputs, especially iron

Eng. Ahmed Al-Wardani, a member of the Egyptian Businessmen Association, explained that the real estate market will be affected by the repercussions of the war crisis that erupted between Russia and Ukraine

The market is expected to witness an increase in unit prices, whether residential, commercial or medical administrative, that may reach 30% during the current period, This is due to the increase in the prices of raw materials and building and construction supplies, including the prices of bile, which is used in the iron industry, especially since Ukraine is one of the largest suppliers of bile in the world, pointing out that there is concern about the large rises in prices and waves of inflation in the world due to the economic situation as a whole

Al-Wardani said that the Russia-Ukraine war will have major repercussions for the economies of the world as a whole. The Egyptian market is not far from the global economy. We will be greatly affected by the consequences of the war. A huge inflation wave is expected to haunt all sectors

Al-Wardani said that the real estate market is witnessing a great rise in infrastructure, roads and Bridges, and in urban sprawl. The creation of Africa's first and largest smart city, the new administrative capital of fourth-generation cities, and the role of the state in supporting developers