Walid Morsi, Chairman of DCI Plus architects consultant, reveals his vision of the challenges of the real estate sector after the global and local economic crises, Invest-Gate reports.
He says during his participation in the round table organized by “Invest-Gate” that the Egyptian real estate sector faced many crises during the last period, including high prices of raw materials, the Russian-Ukrainian war, increasing inflation, and further devaluation of the local currency.
Morsi adds that all these factors led to an increase in prices and a shortage in building materials, in addition to affecting the purchasing power of individuals.
The top executive notes that the real estate sector has always been able to get out of these crises with minimal losses, and has proven its ability to overcome and confront all crises.
Morsi praises the facilities granted to developers by the Cabinet.
Yesterday, the Egyptian government decided to extend the project delivery deadlines for developers by 20%.