Egyptian authorities plan to increase exports of real estate assets

Egypt's real estate assets, including both public and private sector projects, are valued at US$200 billion and are suitable for export sales. This was stated by Assistant Minister of Housing for Technical Affairs, Abdelkhalek Ibrahim.

According to the official, the national government is launching a property export initiative from 2022. It will help revitalise the local market and increase foreign exchange reserves through property sales.

Ibrahim mentioned that activities in this field generated revenue of around 20 per cent of Egypt's GDP in 2023. This is reported by Daily News Egypt, a partner of TV BRICS.

In line with the country's President Abdel Fattah Al-Sisi's directives, the government has made urban development a development priority. Over the past decade, the state has initiated the construction of more than 2 million housing units in Egypt, complementing the efforts of the private sector.