Future Projects Qatar
 
Monday, April 23, 2018
Directory Directory Subscribe
Login
 

Exporting real estate attracts attention of real estate developers

 
 

Please, enter data

Please, enter data

Daily News Egypt, 13 March 2018

The export of real estate’s value in the world is estimated at $2tn, while the size of the real estate industry (buying and selling) is estimated at $250bn annually, according to Mohamed Montasir, CEO of Egyptian Experience.

Montasir said that the volume of real estate purchases of British people from foreign markets is about $12bn annually, due to the high real estate tax in Britain, which is close to 40% of the value of the property, which makes British citizens prefer to buy property outside their country.

Montasir added that the export of real estate in Egypt has achieved positive results due to Egyptian real estate being less expensive compared to the global market.

He noted that the most important challenges facing the export of Egyptian real estate are a shortage of legislation regulating real estate export and a property registration problem, which is a problem for Egyptian as well as foreign citizens.Montasir called for developing the legislative structure, especially in the touristic areas that developers work in, and the development of infrastructure, especially airports, which are relying on the absorption of the number of tourists in the city.

“Egypt needs $12bn annually from the tourism industry, which will be achieved by providing strong infrastructure,” Montasir said. “The unified contract is one of the necessary guarantees for the export of property and some developers have problems in understanding the law regulating property export and they are in need of identifying the legal needs of foreigners. Egypt is still a virgin market in the field of industrial development and medical tourism.”

He pointed out that Egypt needs investments of $750bn to be directed to infrastructure projects.

For his part, Mario Volpi, sales manager at Engel & Völkers, a German company, said that Dubai’s experience in exporting real estate began in 2002 when it allowed ownership by foreigners in a certain area, but there were a number of challenges that faced the initiative, including delayed implementation of various projects.

However, Dubai has developed a framework to be able to supervise investments on land owned by the state.

Volpi added that there is a regulatory body that provides licenses to real estate marketing companies to ascertain the company and the project being marketed.

He pointed out the rise in the interest rate in the Egyptian market compared to the decline in the interest rate of the market of Dubai, which makes the UAE more attractive than Egypt.

Daily News Egypt
13/03/2018

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Transport: EIB to invest 800 million euro in Lebanon
ANSAmed, 16 April 2018

Lebanon will receive up to 800 million euro of support to public investments by 2020. So said President of the European Investment Bank (EIB), Werner Hoyer.
...

Read full story
Transport: EIB to invest 800 million euro in Lebanon
Lebanon to host 2019 Arab Economic and Social Development summit
The Daily Star, 15 April 2018

Lebanon will host the 2019 Arab Economic and Social Development Summit, the state-run National News Agency reported Sunday.

The AESD was formed as ...

Read full story
Lebanon to host 2019 Arab Economic and Social Development summit
French trade delegation to visit Egypt April 22
Egypt Today, 15 April 2018

A delegation grouping a number of French companies operating in the domains of agriculture, health, environment, gas, and petroleum will visit Egypt on April ...

Read full story
French trade delegation to visit Egypt April 22
Back to Home Page 2768 --- 0 <><><> 629.33333333333.....exvideo=0....eximage=0
P 0
BR 21

Future Projects Qatar

 
The Annual Future Drainage & Stormwater Networks Abu Dhabi
2 - May 2018
Wet Infrastructure Summit
2 - May 2018
Future Civil Defense
7 - May 2018
Future Projects Qatar 2018 Conference
7 - May 2018
Entertainment KSA
3 - September 2018
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Wet Infrastructure Summit

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Food Africa Cairo - 8 December - 10 December 2018  
  Mac Fruit Attraction - 8 December - 10 December 2018  
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Beirut Boat
Energy Lebanon
Project Lebanon
Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar Hospital Build
Qatar School Build
Qatar Sports Infrastructure
Qatar StoneTech
Qatar Transport & Logistics
Iraq
Iraq Agrofood Baghdad
Project Iraq Baghdad
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2018 - © All rights reserved