“Bold” expectations from Sawiris Real Estate in Egypt

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Source: Cairo – Fahima Ahmed

Naguib Sawiris, Chairman of Orascom Investment, said that the delay in the issuance of the mining law disrupts opportunities for gold and minerals exploration in Egypt, but he expected gold to stabilize at the current borders in 2020.

Regarding the real estate sector, Sawiris said in an interview with Al-Arabiya that companies are still avoiding investing in medium and low-priced real estate, despite the great demand for this segment of real estate.

“The real estate field is promising in Egypt, and the supply covers only 10% of the demand. There is a huge demand for low-priced units, but no real estate companies want to enter into investment in this category for low-income people, but for the middle and high classes the demand is higher than the supply. The real estate sector is working on Supporting the economic cycle in an integrated manner from the contracting companies, iron and cement.

Sawiris added that “Ora Capital” real estate investments exceed $ 5 billion today, at the very least.

Regarding the tension in the Middle East region, Sawiris said that the geopolitical tensions affect the entire region, adding that the Arab region has a great opportunity to resettle medium-tech industries.

Sawiris added that the American-Iranian tension affects the whole world, especially with regard to oil prices.



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