LIVING "By the Real Estate Leaders" Winter 2018 Issue #14 | Page 11

a good place for investment as a result of the
country’s directions. And Mr. Doss confirmed
to us that there is a big appetite for purchasing
in the New Capital.
Egyptians, we are now looking at a new year with
new prospects. And perhaps the New Administrative
Capital might offer solutions to some of Egypt’s real
estate issues, especially if the right approach is taken
in order to ensure that the people will have the finan-
cial ability to invest in real estate.
Mr. Riad
also believes that this will be
the most important factor of change in 2018.
He predicts that more real estate projects will
be up for sale in the New Capital. He elabo-
rates that there will be residential apartments
available there, as they are trying to match the
kind of demand present at the moment in
Egypt. However, Mr. Riad still believes that
people will continue to face issues in purchas-
ing properties, due to the increase in prices
which took place previously, accompanied by
the fact that incomes did not increase with the
same percentage as the increase in prices. Mr.
Riad believes that there must be financial
solutions for this issue. The solution he men-
tioned is activating the role of real estate
financing, in order to give financial solutions
to the people. So that the situation does not
end up being that the developer is funding the
project, and the people find themselves unable
to purchase.
With the new year
in its abso-
lute beginning, we definitely hope to over-
come the harsh circumstances of 2017, and
build a new and more positive start for the real
estate industry in 2018. While the floatation
and devaluation of the Egyptian pound have
severely affected the purchasing power of
Mr. Waheed Doss
BO RE/MAX First Choice
Mr. Ashraf Riad
BO RE/MAX RFM
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