25125
Real Estate Powering  Egypt Growth
World Economy

Real Estate Powering Egypt Growth

In the last few critical years of Egypt’s history, the growth of its economy has depended heavily on the development of the real estate sector, Amwal Al Ghad reported. The real estate sector in Egypt is dynamic and reliable, serving as the backbone of the nation’s economy despite the political and economic setbacks endured in recent years. The value of real estate investments in Egypt has witnessed a sharp increase since 2001–from €890 million ($992 million) rising to €3.5 billion by the end of 2012, representing a growth rate of 27.5%. Labor markets in Egypt have been favorably assisted by buoyancy in the country’s property market. In 2012, the real estate sector absorbed as much as 14.9% of total employment, hiring an equivalent of 3.2 million people and in 2013 the sector contributed 8.3% to national GDP. Industry insiders have since adjusted their outlook for Egyptian real estate, projecting the sector to grow 70% from €6.3 billion in 2012 to just over €10 billion by 2020.

 

Short URL : https://goo.gl/5HtVW9
  1. https://goo.gl/3tOZ9l
  • https://goo.gl/sY3trn
  • https://goo.gl/kcnd9u
  • https://goo.gl/TiIVi3
  • https://goo.gl/IuncvI

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Trending

Googleplus