Engineer Mohamed Ghobashy, Secretary-General of the Real Estate Developers Association and Chairman of Scope Real Estate Development, announced five key demands aimed at supporting and regulating Egypt's real estate market. This announcement was made during the association's first conference, which witnessed wide participation from leading real estate developers and government representatives.
The demands included establishing a permanent and organized societal dialogue between real estate developers and state institutions to unify visions and address market challenges. Ghobashy also called for broader opportunities for collaboration with the public sector in implementing social and middle-income housing projects to achieve a balance between investment and social aspects.
He emphasized the importance of providing residential lands of small and varied sizes to meet the needs of a broader market segment, stressing that diversifying real estate products has become a necessity amid current economic changes. He also highlighted the need to develop and improve the licensing system in new cities to accelerate implementation and reduce procedural burdens on investors.
Ghobashy called for greater attention to Egyptians working abroad and listening to their demands, affirming that they represent an influential segment in demand and investment movements. He advocated for activating and supporting the real estate financing initiative, with interest rates reduced to 6% for social housing and 8% for middle-income housing, to expand the beneficiary base and stimulate genuine demand.
VISION Concept IMD English:
Through these demands, the Real Estate Developers Association emphasizes the importance of public-private partnerships, enhancing societal dialogue, and providing a regulatory environment that encourages sustainable real estate investment in Egypt.