Market Value of Stock Exchange-Listed Property Companies Hits EGP 71 bn

Thursday, 16th March 2017
by Nayrouz Talaat

A general view of the Egyptian stock exchange in Cairo August 18, 2013. Egypt’s stock market fell sharply on Sunday as it resumed trading after hundreds of people were killed in a crackdown by the army-backed government on supporters of the Muslim Brotherhood. Banks and the stock market reopened for the first time since Wednesday’s carnage, with shares rapidly falling 2.5 percent. REUTERS/Louafi Larbi (EGYPT – Tags: )

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.