The total market value of the stock exchange’s listed property companies hit EGP 71 bn by the end of 2016, Invest-Gate reports.

The Head of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy has revealed such data in press remarks during Egypt’s Builders Conference.

During the conference, Samy notes that EFSA is working, in cooperation with the Stocks Exchange, on increasing the number of listed property companies in the stock market, especially as the country is moving ahead with development projects.

”We are looking forward to expanding the role played by the stock market in boosting the real estate and construction sectors in the coming period,” he notes.