Tariq Eid: Egyptian real estate prices increased by 15% as a result of the Russian-Ukrainian war
Written by: Sally Mazrou
Tariq Eid, vice-chairman of Jumeirah Egypt
Real Estate, said that the Russian-Ukrainian war will affect the Egyptian real
estate market by exposing it to crises in building materials that will not be
less than 30%, an increase in the cost of construction between energy prices
and imported and domestic energy-related production raw materials, which
affects the price of The property increased by 15% directly according to the
relative weight of the land, as the price of energy increased and the price of
a barrel reached $100 for the first time since 2014, and the price of gas rose
to $1,400 per 100 square meters, an increase of 35%
The Vice Chairman of the Board of Directors of “Jumeirah Egypt Real
Estate” explained during an intervention on the “Aqar Ya Masr” program on Sada
Al-Balad channel, that the Egyptian real estate has gone through many
experiences of real estate crises since 2008, affected by the global economic
crisis, the 2011 crisis, the Egyptian revolution and the floatation crisis of
the Egyptian pound, which is considered The hardest, and the property proved to
be the winning horse and the safe haven of fortune
Eid added that although real estate companies in general have a rate of
risk that does not exceed 8:7%, but it will not bear the inflation risks that
will occur in the coming period, which the world has not witnessed since the
Second World War, in addition to that since the beginning of the year there is
a problem in Energy, as well as recent Central Bank decisions aimed at
preserving the Egyptian market
تعليقات
إرسال تعليق