The Egyptian real estate sector represents more than 20% of the country's total gross domestic product (GDP), Samir stated, highlighting real estate's significant role in the economic development of various countries
The total value of Indian investments in Egypt stands at $3.2 billion, which are diversified across 52 projects spanning multiple sectors such as food industries, chemicals, and tourism, according to a statement by Minister of Trade and Industry, Ahmed Samir.
Egypt and India are linked by strategic bilateral relations that are based on a long history of cooperation aimed at supporting the ambitions of the two countries to achieve economic and social development, the trade minister stated on behalf of Prime Minister Mostafa Madbouly at the 21st annual forum of the Confederation of Real Estate Developers’ Associations of India held in Sharm El-Sheikh.
Samir pointed out that Egypt has implemented many policies aimed at attracting more foreign investments in the real estate development sector, including creating investment zones, issuing many regulations and rules, and establishing specialized courts to accelerate the pace of settling disputes in this sector, noting that these measures have contributed to an increase in foreign investments in the sector as well as infrastructure projects.
The Egyptian real estate sector represents more than 20% of the country's total gross domestic product (GDP), Samir stated, highlighting real estate's significant role in the economic development of various countries. It serves as a major driver of growth, investment, job creation, and the provision of housing units for citizens, as well as the development of infrastructure projects, he added.
The trade minister also reviewed developments in Egypt’s membership in the BRICS bloc, which represents a distinguished opportunity for the two countries to enhance joint cooperation relations in the real estate development sector and explore new horizons for investment and growth in this sector.
The volume of trade exchange between Egypt and India experienced a substantial surge, increasing by 13.7% to reach $6 billion in 2022, compared to $5.3 billion in 2021, according to the data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) in June.
Egyptian imports from New Delhi witnessed notable growth, reaching $4.1 billion in 2022, up from $3.2 billion in 2021.
