imported 2024-03-17 17:43:07
“The highest demand for the next five years will be for middle-income apartments. In previous years, there was a lot of demand for luxury apartments and there were not enough apartments available for the middle to low income population. I think that this will occur in Cairo particularly and I am also expecting to see growth in southern Egypt,” noted Eng. Darwish Ahmed Hassanin, CEO of Saudi Egyptian Construction Company (SECON).
“Real estate investment represents a very important part of Egypt’s economic growth and we expect good growth for real estate for the following six months,” stated Eng. Darwish Ahmed Hassanin, CEO of Saudi Egyptian Construction Company (SECON).
Egypt’s agriculture is composed mainly of two segments: the larger agribusiness operations growing produce on a large scale and the smaller traditional family farms that account for 80% of the cultivated land in the country.
The main capital of SECON was recently increased by 243 million US dollars and an agreement was signed between the representatives of the two governments in the presence of the Egyptian Prime Minister Eng. Ibrahim Mahlab.
The Egyptian government is now focusing on small scale industries as a mean of economic and social development. The country’s private sector is dominated by a plethora of small businesses such as farmers, furniture makers or restaurant-owners.
“Our target is to finish this project over the next five years. It will cover a total of about 25,000 acres, growing mostly wheat, corn, alfalfa and barley and a little bit more table grapes and dates,” reveals Daniel Leroux, CEO of KADCO Egypt.
El-Sisi said in the beginning of May 2014 that people “should lower their expectations for change”; Egyptians should not expect “instant democracy or rapid economic reforms.” He further argued that shared sacrifice is a necessary condition.
AlexBank is the only private bank with a presence in every governorate of Egypt. “We are working to improve the SME business by offering new products and using the experience we have gained in Italy where the pillar of the business sector is SMEs. The Egyptian government and the business sector are all saying that the future of the country will be SMEs,” says Roberto Vercelli, MD & CEO of AlexBank.
“The Saudi Egyptian Construction Company was established in 1975 by the Saudi and the Egyptian governments. It is split equally by both parties. The company was established for real estate investment in Egypt. Since 1975, we have been making excellent investments and we have been producing different kinds of apartments with the required standards for Egyptians and for Arabs,” explains Engineer Darwish Ahmed Hassanin.
“Our biggest success was in Libya from 2007 to 2010, where GCC participated in infrastructure projects throughout the country. We are currently doing similar projects in Saudi Arabia, Iraq, and Egypt. Our main focus in Egypt is the Suez Canal project,” notes Mostafa Al Hassan, Chairman of Global Consolidated Contractors (GCC).
