Egypt’s real estate sector growing to 16% of GDP – developer

The real estate sector accounts for around 16 percent of Egypt’s GDP, said property developer DMG chairman Ayman Ismail on Monday.

“Egypt has a very powerful real estate market. It is the backbone of the Egyptian economy, and speaking about witnessing a slowdown is baseless given the recent significant business results and sales made by real estate firms in the country.” Ismail said at Cityscape Egypt Conference.