CAIRO - 14 August 2023: The government is considering several mechanisms to boost real estate exports, including the establishment of a real estate fund with administrative and commercial assets that generate income, as well as the trading of properties on the Egyptian Stock Exchange (EGX), according to an official statement from the Cabinet.
These mechanisms also involve evaluating the economic impact of the idea of establishing a real estate exchange, which will serve as a platform enabling investors and real estate companies to buy and sell stakes in real estate assets and invest in them. This exchange would complement traditional real estate markets, offering opportunities for real-time trading and more liquid investments in the real estate sector.
These ideas were presented during a Cabinet meeting on Sunday with a group of government institutions responsible for the real estate sector, in addition to the Central Bank and relevant ministries.
The meeting discussed the measures taken so far through the committee formed to study mechanisms for exporting real estate abroad to provide foreign currency, as well as the legislative proposals prepared specifically for this matter.
Prime Minister Mostafa Madbouly emphasized the need to prepare a promotional campaign that contributes to increasing real estate exports, especially as the state has made significant progress in creating incentives and facilitations for foreigners to acquire property, including obtaining citizenship and residency, said Nader Saad, spokesperson for the Cabinet.
It is planned that the proposed draft laws will be presented to the Cabinet soon, contributing to facilitating foreign ownership of real estate, Saad added.
The meeting also discussed notable international experiences related to real estate trading, as well as models of real estate stock exchanges in different countries that could be applied practically to the Egyptian real estate market.
The meeting also addressed the proposal to hold meetings with Egyptian experts abroad specializing in real estate investment, to exchange insights on all matters related to this issue.