{"id":550030,"date":"2022-10-11T03:48:22","date_gmt":"2022-10-11T03:48:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/real-estate-developers-call-on-govt-to-expand-financing-options-ahead-of-economic-conference\/"},"modified":"2022-10-11T03:48:22","modified_gmt":"2022-10-11T03:48:22","slug":"real-estate-developers-call-on-govt-to-expand-financing-options-ahead-of-economic-conference","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/real-estate-developers-call-on-govt-to-expand-financing-options-ahead-of-economic-conference\/","title":{"rendered":"Real estate developers call on gov\u2019t to expand financing options ahead of economic conference"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Real estate<\/strong><strong> players should tune in to the government\u2019s economic conference: <\/strong>Prime Minister Mdbouly said there would be a dedicated session for the sector at the conference scheduled for 23-25 October, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02FegaTUovYUqUHeMMoTkxi2a5rkPkqxH98iHb23kzGaRJCUdKz3Fxy3g88DYYnjCnl\">statement<\/a>. Madbouly made the comments at meeting with real estate developers and Housing Minister Assem Al Gazzar on ways to boost the sector. El Gazzar said the government was particularly interested in proposals to attract foreign and Egyptian expat property buyers. Developers at the meeting called on the government to help diversify financing options for would-be homebuyers, and asked for permission to sell to foreign buyers in USD.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The Madbouly government is looking to launch a <strong>national tourism strategy<\/strong> in 1Q2023 to help the country attract 30 mn tourists a year. Some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37b4540a-9a64-4483-ab5c-d2cda507d0cc\">13 mn<\/a> tourists visited Egypt in 2019. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02UQ323YN9c92mVzSYJzzN9Cu8jz6Ub4ZHUnopMwzoeqvfMq36TXjrrJb6MEVPaqzTl\">Statement<\/a>)<\/li>\n<li>Egypt-based <strong><a href=\"https:\/\/www.tnddesign.com\/\">T&D Design<\/a><\/strong> plans to begin operating a EGP 150 mn office furniture factory in 1Q 2023. (<a href=\"https:\/\/bit.ly\/3RJJCla\">Al Mal<\/a>)<\/li>\n<li>Saudi SME fintech player <strong><a href=\"https:\/\/geidea.net\/merchants\/en\/\">Geidea<\/a><\/strong> is partnering with <strong>Visa<\/strong> on e-payments (<a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/geidea-partners-with-visa-to-accelerate-digital-payments-across-egypt-ymro2ytl\">Statement<\/a>)<\/li>\n<li>UAE proptech startup <strong><a href=\"https:\/\/stellastays.com\/\">Stella Stays<\/a><\/strong> is setting up furnished apartments and coworking spaces in New Cairo through a partnership with real estate developer <a href=\"https:\/\/tameer.com.eg\/\">Tameer<\/a>. (<a href=\"https:\/\/www.linkedin.com\/posts\/stella-stays_stella-stays-announced-expansion-into-egypt-activity-6981554303136108544-wY6q?utm_source=share&utm_medium=member_desktop\">Statement<\/a>)<\/li>\n<li><strong>El Badr Plastic <\/strong>is now qualified to move from the small-cap Nilex to the EGX after the company\u2019s board approved raising its authorized capital to EGP 250 mn from EGP 17 mn. EGX listing requirements include a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/815451f3-a7af-48a7-a836-abec0fd9b1d2\">minimum issued capital<\/a> of EGP 100 mn or its equivalent in foreign currency. (<a href=\"https:\/\/ent.news\/2022\/10\/El-Badr-Plastic.pdf\">EGX statement)<\/a><\/li>\n<li><strong>UAE-based G42<\/strong> and <strong>Benya Technologies<\/strong> will develop AI and other digital infrastructure including data centers, telecom towers, and cloud technology here as part of an equity-based partnership. (<a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/g42-and-benya-technologies-partner-in-egypt-to-deliver-critical-technology-infrastructure-solutions-qof6rl3z\">Zawya<\/a>)<\/li>\n<li><strong>President Abdel Fattah El Sisi<\/strong> approved a KWD 750k (USD 2.4 mn) loan from Kuwait to fund the feasibility study of a planned railway linking Egypt with Sudan. (<a href=\"https:\/\/bit.ly\/3T7GNeK\">Al Mal<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Real estate players should tune in to the government\u2019s economic conference: Prime Minister Mdbouly said there would be a dedicated session for the sector at the conference scheduled for 23-25 October, according to a statement. Madbouly made the comments at meeting with real estate developers and Housing Minister Assem Al Gazzar on ways to boost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,72,83,219,2531,238,666],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550030","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam","tag-real-estate","tag-saudi-arabia","tag-td-design","tag-tourism","tag-visa","wpautop","entry"],"acf":{"mongo_id":"3564fecc-ba24-4f50-9625-638c4ec6afb6","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[550011],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Real estate developers call on gov\u2019t to expand financing options ahead of economic conference - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/11\/real-estate-developers-call-on-govt-to-expand-financing-options-ahead-of-economic-conference\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real estate developers call on gov\u2019t to expand financing options ahead of economic conference\" \/>\n<meta property=\"og:description\" content=\"Real estate players should tune in to the government\u2019s economic conference: Prime Minister Mdbouly said there would be a dedicated session for the sector at the conference scheduled for 23-25 October, according to a statement. 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The government is set to sell several land plots spanning a minimum of 75 feddans apiece, and the developers want\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545677,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/07\/govt-eyes-more-support-for-contractors\/","url_meta":{"origin":550030,"position":1},"title":"Gov\u2019t eyes more support for contractors","author":"enterpriseam admin","date":"7 April 2022","format":false,"excerpt":"The government could look into rescheduling debt payments for developers, Housing Minister Assem El Gazzar said after a sit-down with Prime Minister Mostafa Madbouly and real estate players yesterday, according to a cabinet statement. The price of local building materials including steel and cement has soared since the start of\u2026","rel":"","context":"In &quot;Real estate&quot;","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/160.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579323,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/govt-introduces-fresh-support-for-real-estate-developers-amid-economic-challenges\/","url_meta":{"origin":550030,"position":2},"title":"Gov\u2019t introduces fresh support for real estate developers amid economic challenges","author":"enterpriseam admin","date":"2 February 2023","format":false,"excerpt":"The state answers real estate players\u2019 pleas: Real estate developers are now entitled to a 20% deadline extension on their projects, Prime Minister Moustafa Madbouly said at yesterday\u2019s post-cabinet meeting press conference (watch, runtime: 15:05 or read the cabinet statement.)There\u2019s more: The government will also consider projects finished when they\u2026","rel":"","context":"In &quot;Real estate&quot;","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/33.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594923,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/11\/madbouly-industry-figures-review-draft-law-to-regulate-real-estate-developers-in-egypt\/","url_meta":{"origin":550030,"position":3},"title":"Madbouly, industry figures review draft law to regulate real estate developers in Egypt","author":"enterpriseam admin","date":"11 September 2019","format":false,"excerpt":"LEGISLATION WATCH- Cabinet, industry figures review draft law to regulate real estate developers: Prime Minister Moustafa Madbouly, Housing Minister Assem El Gazzar, and representatives from the real estate industry met yesterday to review a draft bill that would regulate developers and the industry, according to a Cabinet statement. No details\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578953,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/19\/real-estate-developers-want-more-help-overcoming-the-economic-crisis\/","url_meta":{"origin":550030,"position":4},"title":"Real estate developers want more help overcoming the economic crisis","author":"enterpriseam admin","date":"19 January 2023","format":false,"excerpt":"Real estate associations call on authorities for support: Some in the real estate industry are asking for state support as they battle the economic headwinds that the rest of the business community is presently facing. In a list of demands submitted earlier this week, the real estate divisions of the\u2026","rel":"","context":"In &quot;Real estate&quot;","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":650721,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/spotlight-on-the-cityscape-egypt-conference\/","url_meta":{"origin":550030,"position":5},"title":"Spotlight on the Cityscape Egypt conference","author":"enterpriseam admin","date":"30 March 2017","format":false,"excerpt":"We stopped in on the Cityscape Egypt real estate conference yesterday, where we are proud to have seen our friends at SODIC win two awards. The real estate developer took home hardware for the Best Community, Culture & Tourism Project Award for its Westown Medical Centre project and Best Commercial\u2026","rel":"","context":"In &quot;Spotlight&quot;","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550030"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550030\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550011"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550030"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550030"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}