News Column

HDB Chairman expects 40% growth in the Egyptian real Estate market

February 21, 2014

Cairo - Mr. Fathy el Sebai, chairman of Housing and Development Bank (HDBK), expected a 40% growth rate in the real estate market in the current year, expressing his optimism that the national economy would get out of the current slowdown after the Presidential and parliamentary elections. Moreover, there were indicators of that improvement in the last 3 months he added, confirming that from the perspective of Arabic and international investors the Egyptian market has good opportunities and is betting on the future due to the economic diversification and the size of the market and demand growth opportunities. However, El-Sebai noted a few obstacles that faces banks and companies working in Mortgage financing in buying residential units in the new cities. Source: Ahram Newspaper & Arab Finance Editor  

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Source: Arab Finance (Egypt)

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