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| 16 January, 2018

Egypt's real estate sector contributes 15% to GDP in first 9 months of 2017

The real estate sector achieved a 31% growth during the period 2011-2017

Image used for illustrative purpose. A general view of residential buildings under construction in El Katameya district of New Cairo March 30, 2013.

Image used for illustrative purpose. A general view of residential buildings under construction in El Katameya district of New Cairo March 30, 2013.

REUTERS/Amr Dalsh

Egypt’s real estate sector contributed 15 percent to the country’s gross domestic product (GDP) within the first nine months of 2017, Ashraf Salman, Aur Capital’s chairman and ARCO’s chief executive, said Tuesday.

Aur Capital plans to invest in the real estate sector, which is one of the most five attractive sectors, within the upcoming period, added the Egyptian the former Investment Minister’s Salman.

“The sector (real estate) achieved a 31 percent growth during the period 2011-2017 from 43 percent during the first nine months of last year,” he further referred.

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There will be a 6 percent increase in the sector within 2018, Salman expected, aiming at 8 percent surge in the real estate market within 2019.

© Amwal Alghad 2018