Revenues of real estate projects reach 42%

Housing Minister Moustafa Madbouly said that the revenues of the investment projects, on which the government has inked a memorandum of understanding, reach between 22 and 42 percent according to the nature of each venture.
The government has signed the MoU on the sidelines of the Egypt Economic Development Conference (EEDC).
Madbouly told MENA that the projects implemented in new cities achieve revenues more than that in other regions.
The government will be a partner with real estate developers in return for part of the revenues which is better than selling them plots of land according to market prices the minister underlined.
Some of the revenues are in the long-run, the minister noted, adding that every company which invest in Egypt will have a banking account to attain transparency.
Source: MENA