Egypt’s Scope Real Estate to invest $8.6mn in projects in 2019

Egypt’s Scope Real Estate says it plans to invest 150 million Egyptian pounds ($8.6 million) in its projects in the country’s New Administrative Capital and New Cairo cities within 2019.

The real estate, development, and investment firm has so far launched more than 8 projects, including 300 housing units, announced its chairman Mohamed Salama Ghabashi on Monday.

“We expect that the prices of real estate will increase at the beginning of the second half of the year, in line with the rise in fuel prices as a result of cutting fuel subsidies that mainly affect the prices of construction materials,” Ghabashi said.