Leasing sector in Egypt grows 193% in 10 months – EFSA

The volume of leasing contracts has jumped 193 percent within the first ten months of 2015, Sherif Samy -chairman of the Egyptian Financial Supervisory Authority (EFSA)- announced Tuesday.

The contracts of leasing activity are estimated at 16 billion Egyptian pounds at the end of October 2015 compared to 5.4 billion pounds a year earlier, Samy said.

He stated that the number of leasing contracts has been boosted from 1875 to 2216 in January-October 2015, registering 18 percent increase.

Properties and land activity has attained contracts worth 6.3 billion pounds getting 40 percent of the total contracts, followed by heavy equipments activity whose contracts are estimated at 5.8 billion pounds capturing 36 percent of total contracts. Meanwhile, the contracts of machines and equipments activity recorded 1.3 billion pounds marking 8.3 percent of the total contracts.

The chairman noted that the number of leasing firms listed in EFSA reached 219 during the first ten months of 2015 versus 214 at the same period of 2014.