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Deputy Maghawry Opposes Foreign Property Ownership
Member of Parliament Atef Moghairi expressed his opposition to foreigners owning land and real estate in Egypt, emphasizing that the most important solution is to improve housing availability for Egyptian citizens first. He added that the government's decision to permit this ownership came under pressure from investors and real estate developers, aimed at tackling the real estate slump. He conveyed his belief that priority should be given to providing suitable housing for Egyptians before opening the market to foreigners.
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