8 Hrs
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المصري اليوم
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Talk Show Bulletin: Real Estate Bubble and National ID Updates
The article discusses the real estate market in Egypt. Businessman Naguib Sawiris confirmed that the market is experiencing a slowdown in sales and a decline in demand, along with an increase in the rate of unit cancellations. He explained that the core issue is not the presence of a real estate bubble but rather a decrease in purchasing power resulting from rising construction costs. This has led to a slowdown in project execution and increased challenges for developers, especially since they rely on long-term installment plans, which add a burden to the market amid rising costs and market fluctuations.
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