Foreigners are customers in 30% of El Attals projects
Egypt's real estate turnaround allures foreign investors, El Attal
Chairperson of El Attal Holding Eng. Ahmed El Attal said that the Egyptian economy, beside quite a few other countries, managed to grow in the face of coronavirus-induced headwinds, with it recording 3.4% growth rate.
In his speech delivered at 2nd session of City Scape Conference's on Monday, El Attal said that Egypt was the second most attractive country in Africa in 2020 for foreign investments and was the first country whose economy managed to grow in the same period, a clear signal indicating the country is on the right path.
These potentials help allure foreign investments and enhance property export drive, he explained.
In view of its continuous growth, the real estate industry, already constituting 18 percent of the country's gross domestic product, is likely to seize a higher growth percentage in relation to GDP.
"Foreign stakeholders are present in my company, as foreigners are customers in 30% of the company's total projects," said he.