Egypt’s real estate investment activity in Africa hit $500 mln – PM

Egypt’s share of real estate investment activity in Africa is not exceeding $500 million, the country’s Prime Minister Moustafa Madbouli on Sunday.

“This is much below our aspirations as we are seeking to see a strong presence worldwide for Egyptian real estate investment companies,” Madbouli said at the Builders of Egypt Forum, taking place in Cairo.

In Africa, the real estate investment activity amounts to $80 billion.

Egyptian real estate investment companies have to form strategic partnerships with counterparts worldwide, an essential step ahead of tapping new markets in order to start exporting Egyptian real estate.