Chairman of GOEIC Participates in Real Estate Day News Conference "Real Estate Industry Between Opportunities and Challenges"

Publish Date 20/06/2022 11:03 AM
Last Update 20/06/2022 02:13 PM

Dr. Asim Al-Jazzar, Minister of Housing, Utilities and Urban Communities opened the day on behalf of the Prime Minister Dr. Mustafa Madbouly, accompanied by Eng/Abdul Sadiq Al-Sharbaji, President of the National Press, and Press Writer/Ahmed Jalal The Chairman of the "Today's News" Foundation in the presence of a large number of ministers and with the participation of Eng. Essam Al-Naggar, Chairman of the General Organization for Export and Import Control, government representatives, banks, senior Egyptian and Arab real estate developers, and members of the House of Representatives and Senate.

The conference comes amid major challenges in the real estate market, the most important of which is to face an accelerated increase in the price of construction materials over the past period, affecting the cost of construction of real estate units, and in the midst of persistent complaints from developers that the purchasing power of customers is not commensurate with the level of prices in the market, and obstacles to obtaining real estate finance.

The Writer Ahmed Jalal, Chairman of the "Today's News" Foundation Confident in the real estate sector's ability to overcome current challenges such as overcoming the difficult period of the coronavirus pandemic, With the strong support of the State and its clear strategy to double the globalized area to 14% Stressing that the market includes large developers capable of adapting crises and maintaining a market that contributes about 20% to GDP, which will provide millions of jobs to Egyptian citizens, It is the engine of about 100 other industries directly and indirectly associated with it.

Mr.Jalal noted that the conference sessions were held after discussions and preparatory sessions in order to arrive at actionable recommendations that help the market to start, and contribute to the achievement of the state's objectives in development and real estate export, which is one of the most important solutions that can help the state attract hard currency.

Mr. Eng. Essam Al-Naggar, Chairman of the General Organization for Export and Import Control, participated in the second session of the Conference under the title "The cities of the fourth generation are an Egyptian model for looking ahead" For a better real estate future. Its sovereignty discussed the new real estate brokers law and affirmed the obligation of the real estate seller to provide all legal data about the real estate or real estate unit when selling or buying the property.

The law will soon be available on the official website of the GOEIC in all its details to reduce terrorist financing operations. The real estate brokerage companies registered with GOEIC, which has now reached more than 1300 real estate brokerage companies, will also be available.

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