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Egypt: Elections don’t influence the real estate market, say experts

Posted on 09 November 2010

From Almasryalyoum.com: State housing projects are often tied to presidential elections. But the projects typically lead to market inflation, with investors the only party poised to benefit. As part of the presidential platform, the government provides project tenders to investors interested in financing low-income housing construction on the condition the firm sells the units at government-stipulated prices.
“The real market of real estate should not be affected by either parliamentary or presidential elections,” said Salah Hegab, head of a construction committee. “It depends on the supply and demand. Real estate market in Egypt suffers big problems as most projects target only 20% of the upper class.”………………………………………Full Article: Source


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