{"id":325852,"date":"2022-07-25T16:31:46","date_gmt":"2022-07-25T16:31:46","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325852"},"modified":"2022-07-25T16:31:46","modified_gmt":"2022-07-25T16:31:46","slug":"west-cairo-to-witness-increase-in-volume-of-investments","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/07\/25\/west-cairo-to-witness-increase-in-volume-of-investments\/","title":{"rendered":"West Cairo to witness increase in volume of investments"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Tarek Shoukry \u2014 Head of the Real Estate Development Chamber at the Federation of Egyptian Industries and Undersecretary of the Housing committee at the House of Representatives \u2014 expects the coming period will see an increase in the volume of investments in West Cairo.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He said that the region\u2019s development is taking place gradually, the same way it did in East Cairo, adding that the state plans to develop West Cairo in a way that highlights the tourist attractions there, namely the pyramids, Sphinx Airport, and the Grand Egyptian Museum (GEM), which will have a significant role in increasing investment opportunities in the region over the coming period.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He added that a number of hotels are being inaugurated at a very high and distinctive level in West Cairo, which will make it a great destination for tourists.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">On the performance of the real estate market over the previous period, he commented that Egypt\u2019s real estate market always goes through some crises due to global economic challenges, the latest of which was the Russian-Ukrainian War.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Despite the severity of these crises, he confirmed the strength of the real estate market and its continued attractiveness, adding that real estate companies have played an important role in supporting the market.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cDespite the price hikes in raw materials, real estate companies have managed to keep the value of properties fixed, which has led to cohesion in the sector,\u201d Shoukry explained.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This situation contributed to increasing customers\u2019 conviction that real estate is a safe haven for investment and the most profitable during crises, which is confirmed by the increase in sales \u2014 estimated at EGP 150bn \u2014 recorded by companies listed on the EGX during the first half (1H) of this year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tarek Shoukry \u2014 Head of the Real Estate Development Chamber at the Federation of Egyptian Industries and Undersecretary of the Housing committee at the House of Representatives \u2014 expects the coming period will see an increase in the volume of investments in West Cairo.<\/p>\n","protected":false},"author":2,"featured_media":321461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-325852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-invest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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