Chairman of Egypt’s Al Oula Mortgage Finance company Hassan Hussein urged establishing authority to regulate state’s real estate market and to be affiliated directly to the presidency.
During his speech at Cityscape Egypt’s first discussion session, Hussein added that real estate market has promising opportunities as well as considerable investments yet many obstacles need to be driven away before carrying out major projects such as the New Administrative Capital and other social housing projects.
He noted that a number of Arab and local investors demand for expanding their investments in the Egyptian real estate sector as pursuant to the large opportunities that the sector enjoys as well as the rise in rates of demands for housing units every year.
Hussein further added that the Egyptian market owns many financing tools notably banks which established special units to provide mortgage. This in addition to leasing firms which plays a important role in funding service projects such as hospitals and schools.
Cityscape Egypt 2016 kicked off on Tuesday April 5 at Royal Maxim Palace Kempinski under the rubric of ‘ The Future of Development: Urbanisation, Regeneration and Partnership’.
It is set to discuss the main feature of the Egyptian government’s future scheme and the updates of mega national projects and real estate regulations.