Fathallah Fawzi, the Deputy Chairperson of the Egyptian Businessmen’s Association and the Chairperson of the Real Estate Development and Contracting Committee, has urged the authorities to allow real estate developers to finance their projects through real estate funds, following the example of Saudi Arabia.
He made this statement during a joint meeting of the association’s Real Estate Development and Capital Markets, and Stock Exchange Committees. The meeting aimed to discuss the role of the stock exchange in promoting investment in real estate funds, as well as the procedures and benefits of registering, listing, and trading on the real estate bourse. The meeting also addressed the impact of these mechanisms on the real estate investment in Egypt, and the role of the business community in attracting investors to the Egyptian Exchange.
Fawzi highlighted that real estate funds and bourse are an important step for Egypt’s real estate export, as they enable both Egyptians and foreigners to buy and own real estate assets. He added that they also complement and support the traditional market by offering real-time trading opportunities, overcoming obstacles, and facilitating real estate registration processes.
He explained that these new mechanisms, once the legislative framework for their activation is completed, will create a more accessible and transparent real estate investment market and stimulate the growth of the Egyptian real estate sector, especially in new cities. He stressed that they will ensure the protection of the rights of all parties by providing accurate and audited data on the listed properties, enabling investors to make informed decisions and enhancing their confidence in the Egyptian Exchange and the local real estate market.
