00:00 The local boom in real estate purchases in Egypt has led companies to achieve historical profits.
00:07 This has reflected on the growth of the sector in general, as well as the expansion of local and regional companies in particular.
00:14 This has led to increases in real estate prices and the constant rise in inflation.
00:21 Real estate companies in Egypt are betting on continuing to achieve historical sales by paying local liquidity, which is always directed to the real estate sector, despite the inflationary pressures,
00:32 which are reducing savings, with new lows in the last quarter of the year, to raise real estate unit prices by at least 15%
00:44 in an attempt to balance its financial bonds between the rise in demand and the increase in real estate prices and building materials.
00:51 Each company deals with the crisis in a different way.
00:55 Some companies sell the project at stages so that they can increase their prices.
01:01 Some other companies, as I said, store building materials for the next year.
01:06 They store them for six months, so they can secure the prices of building materials and the main real estate.
01:12 The real estate market in Egypt is very strong, and this has proven in many of the challenges we have faced.
01:17 It is recovering and rising again, and there is a great deal of acceptance, thank God, for the purchase of real estate from all developers.
01:23 The billions of dollars in sales and profits of real estate companies in Egypt have led to an increase in their local expansion, despite the high financing costs.
01:31 In fact, it has even reached its peak outside the borders,
01:34 with many real estate companies starting to enter the neighboring regional markets, mainly in Saudi Arabia,
01:40 in search of higher returns and profits.
01:43 This is in addition to the local expansion, which is resulting from an increasing demand.
01:48 The demand for real estate investment in Egypt, I don't think there is a big competition between it and other places,
01:57 because there are more people here, and Egyptians' thinking is different from other countries.
02:04 They always think about investing in real estate.
02:07 We are all investors. In the end, our goal is to win any new market,
02:11 and if it opens, it will help us to go there, whether in Saudi Arabia or elsewhere.
02:14 There are investors from Saudi Arabia, the UAE, and many other countries who come to invest in Egypt,
02:19 because it doesn't mean that they have a shortage, but they see a good opportunity to invest in it.
02:24 And unofficial estimates indicate that the real estate sector has achieved sales of up to 100 billion pounds
02:30 during the first half of the year, compared to 40 billion pounds of sales in the second half of last year.
02:37 Farouk Youssef, CNBC Arabia, Cairo.
02:40 it off.
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