21‏/08‏/2023

The Real Estate Development Chamber reveals the most important obstacles to exporting real estate

Dr. Mohammed Rashid, a member of the Board of Directors of the Real Estate Development Industry Chamber of the Federation of Industries, said that the main obstacle to exporting real estate is registration, because foreigners do not recognize customary contracts, indicating that the recent period has issued some encouraging decisions to buy real estate by foreigners, such as facilitating the acquisition of citizenship or the list.

Exporting the property is through selling the property to foreigners, pointing out that Egypt possesses many attractive factors such as the quality of the real estate product and its cheap price, in contrast to the distinguished location of Egypt and the presence of many beaches.

He pointed out that there are some challenges to the export of real estate, such as poor promotion of the real estate product in Egypt at the level, as the volume of real estate export worldwide reaches $300 billion, and Egypt's share does not exceed 1% of this percentage.

He pointed out that the return on investment in the property is one of the highest returns, pointing out that the price of the property doubles more than once in a few years, and this return is very important for promoting the export of the property.