8 Hrs
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Hisham Talaat Mostafa denies Egypt real estate bubble
Hisham Talaat Mustafa denied the existence of a real estate bubble in Egypt, pointing out that the real estate market is strong and displaying impressive indicators. He emphasized that sales and collection rates among major companies exceed 99%, and that the defaulting of some real estate units does not reflect a general crisis, given that small companies account for less than 2% of the market. He clarified that the rise in property prices in 2023 and 2024 is due to currency exchange rate fluctuations, and that speculation does not indicate the presence of a bubble. He also stressed the importance of approaching the sector with knowledge and understanding, given its significance, which accounts for 22% of the Egyptian economy.
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