The law of granting residency for buying a property must be quickly implemented
Activating real estate exportation achieves a boom in our dollar resources.. and supports the national economy
Islam Yehia real estate expert, head of the commercial sector in one of the major real estate development companies, assured the importance of moving to support and activate exporting Egyptian real estate abroad, and to maximize its returns from hard currency “dollar” to support the national economy in conjunction with the difficult challenges it is currently facing.
Yehia added that the current time is a golden opportunity to develop the level of the real estate export file in conjunction with the real estate boom that Egypt is witnessing, and the unprecedented package of projects available in the Egyptian market and its diversity in various activities, both residential and non-residential, whether affiliated with private sector companies or implemented by government orgsnizations in conjunction with the implementation of a large number of national projects, led by the New Administrative Capital, New Alamein, Galala City, New Mansoura, Maspero Triangle, Sawary Alexandria and other distinguished projects.
He pointed the importance of working on the speedy implementation of the law of granting residency in exchange for buying a property to attract new segments of Arab and foreign clients, reffering to the possibility of granting residency to those who buy an Egyptian property for about $ 100,000, indicating that the Egyptian real estate market enjoys promising investment opportunities.
Yehia confirmed the importance of cooperation and uniting efforts between the government represented by the Ministry of Housing and other concerned parties with major real estate companies to convey the image of the construction boom that Egypt is witnessing, and the size of the distinguished real estate projects that have been implemented to align with abroad clients’ needs in accordance with the highest international standards and specifications.
He explained that exporting real estate will contribute in increasing the volume of market business and open new horizons for all real estate companies, which will ultimately benefit the national economy, in conjunction with the sector’s association with more than 100 professions and other crafts.
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