Cairo – Mubasher: Egypt is looking to export over $6 billion in property in the coming years, according to the head of the Real Estate Export Council.
The real estate export programme will encourage exports from sectors such as construction materials, engineering industries, and furniture, Hisham Shoukry added in a statement to Egypt’s Cabinet.
The development of the real estate business in Egypt will provide several jobs by expanding in foreign markets, he added on the sidelines of a meeting headed by prime minister Mostafa Madbouli to discuss boosting exports by the Egyptian Furniture Export Council.
In October, assistant housing minister Khaled Abbas said that the Egyptian housing ministry and the private-sector firms were targeting real estate exports worth between EGP 150 billion to EGP 200 billion in five years.
Abbas added that the most populous country was looking to export properties by participating in foreign exhibitions.
In January, Abbas stated that Egypt aims to generate EGP 4 billion in proceeds from real estate exports within three years, adding that the housing ministry had signed a deal to participate in Marché International des Professionnels d'Immobilier (MIPIM) exhibition for four years.
Egypt will be taking part in MIPIM, a four-day real estate exhibition held in France, for the first time in March 2019.
