Madbouly reviews proposals to boost real estate exports
Updated 8/14/2023 9:29:00 AM
Arab Finance: Prime Minister Mostafa Madbouly has met with several officials to review a number of proposals to shore up real estate exports, according to a cabinet statement on August 14th.
The meeting tackled actions taken by the committee formed to study real estate exporting mechanisms to secure foreign exchange as well as the legislative proposals submitted in this regard.
The proposed draft laws are expected to be presented to the cabinet soon, which would contribute to facilitating foreigners’ ownership of real estate.
Madbouly has also stressed the importance of launching a promotional campaign to increase real estate exports abroad.
Moreover, the meeting featured several mechanisms to boost real estate export activity, including the establishment of a real estate fund with income-generating managerial and commercial assets, the possibility of trading real estate on the Egyptian Exchange (EGX), and discussing the potential economic impact of setting up a real estate exchange.
This is along with discussing a proposal submitted to conduct meetings with Egyptian experts abroad specialized in real estate investments to exchange views on real estate exports-related matters.
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