imported 2024-03-17 17:43:08
“The general atmosphere now is that of hope and optimism. The current government has sent out many messages of reassurance to investors. A series of significant reforms and national projects have been launched.”
“We are real estate developers and in my opinion, the real estate sector has been one of the most resilient industries, fortunately. SODIC, as a company, has also been more resilient than others. I believe it is a factor of a very deep-willed demand in the market place that is not built on speculation or credit,” notes Ahmed Demerdash Badrawi, Managing Director of SODIC.
“In Cairo and other cities we used to have protests every day and a lot of violence, but this has all subsided dramatically following the presidential elections. Of course we still have some security situations, like any other country in the world, but the overall situation is improving now,” notes Khaled Abd Elghany, Senior Security Consultant of Middle East Security.
The Egyptian market is starting to witness intense competition between the investment companies related to huge tenders and contracts for the implementation of a range of real estate projects. This will create a healthy competitive environment that will have a positive impact on the Egyptian economy. It is expected that the prices of Egypt’s property units will increase by up to 15 percent by end of 2014.
“If we look at the numbers during the last 3 years, we can see that the numbers have been fluctuating from up to down and so on. Egypt’s tourism shows its resilience,” stated Ambassador Nasser Hamdy, former Chairman of Egyptian Tourism Authority.
“SECON is owned 50% by the Saudi government and 50% by the Egyptian government. It is and will continue to be a very good example of cooperation between these two governments and of cooperation between two Arab countries. The continuous support and help from Saudi Arabia to Egypt has been fantastic,” said Eng. Darwish Ahmed Hassanin, CEO of SECON.
“I hope that we have political and economic stability very soon and that we have security here – but this will come gradually, it will not happen overnight,” explained Eng. Darwish Ahmed Hassanin, CEO of Saudi Egyptian Construction Company (SECON).
“We would like to see modifications of the rules for getting licenses and improvement of the investment conditions for both foreign investors and Egyptian investors,” clarified Eng. Darwish Ahmed Hassanin, CEO of Saudi Egyptian Construction Company (SECON).
“Both our real estate and our tourism investments are very important for us. Egypt is an excellent location for both areas of investment.”
“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).
