economic expert explains challenges
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Against Real Estate Sector

Economic expert explains challenges

Arab Today, arab today

Arab Today, arab today Economic expert explains challenges

Darwish Hassanein
Cairo - Safa Abdel Qader

Chairman of the Board of Directors of the Egyptian Saudi Construction Company Darwish Hassanein said that the Egyptian government needs to take a large number of economic decisions to improve the current situation in different fields, including the Real Estate Sector.
He added, in a statement to “Arabs Today”, that dependence on Real State sector to save Egypt’s economy is a big mistake, saying that the government should work to develop other sectors to achieve notable progress during the coming period.
He blamed the governmental decision liberate the Egyptian currency, saying that the decision taken in November led to the current increasing in the materials used in construction. He stressed that the decision led to a notable increase in the prices of lands and the costs of construction, saying that it led to increasing losses to the contracting companies and suspension of a large number of real estate projects.
He added, “The high prices are creating a difficult marketing of housing units, and there must be marketing plans to improve the relationship between the Egyptian pound and foreign currencies.” He stressed that the housing units allocated for low-income citizens is the major responsibility of the government not the investors working in the sector, saying that the investors work just to achieve gains and profits.
Regarding the increase in the interest rate announced by the Central Bank of Egypt, he said: This leads to an increase in return on deposits and consequently, there is an obligation on the return, deposits and various saving aspects.” He added that the increase in the returns on deposits and the various forms of investments on funds encourages attracting a lot of money to banks.
About the prices of residential units, the head of the Saudi-Egyptian Company said, “The rate of increase in the prices of housing units in the current economic conditions varies from developer to developer but moving between 15 and 20% increases influenced by all the elements involved in real estate investment, including the prices of raw materials, construction units, construction products complete.”

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

economic expert explains challenges economic expert explains challenges

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

economic expert explains challenges economic expert explains challenges

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday