The Egyptian real estate market has faced numerous economic challenges in 2022 that have negatively impacted sales. High inflation, currency depreciation, and interest rate hikes have reduced the purchasing power of both local and foreign buyers.
The outbreak of the Russian-Ukrainian war in February 2022 and the resulting disruption of supply chains put more pressure on input prices worldwide, pushing inflation rates to record levels. Egypt also had to face the consequences of this war.
In an interview with Invest-Gate, CEO of Lafarge Egypt Solomon Baumgartner Aviles underlined the latest projects in which his company’s cement has prevailed. He discussed the potentials in Egypt and shared the hardships the industry is going through, while also disclosing the company’s initiatives to reinforce community protection post coronavirus outbreak, along with the precautionary measures adopted by Lafarge Egypt to maintain the safety and wellbeing of its employees.
Page 1 of 1
