ICEC

Egypt 7-month leasing activity goes 14% higher: EFSA

Leasing activity in Egypt grow 14 percent since the beginning of the year until July, head of the country’s market regulator announced Wednesday.

Sherif Samy, chairman of the Egyptian Financial Supervisory Authority (EFSA), said leasing contracts surged to 12.9 billion Egyptian pounds ($1.5 billion) during January to July 2016 versus 11.3 billion pounds for the same period in 2015. However, the number of leasing contracts dropped to 1454, from 1548 last year, the official added.

Properties and lands topped the list by capturing the biggest market share 72 percent of leasing contracts worth 9.3 billion pounds.

Coming second, equipment and machinery seized a 9 percent market share of leasing contracts worth 1.2 billion pounds. Trucks ranked third getting a 8.4 percent share of leasing contracts worth 1 billion pounds.

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