Samih Sawiris: Recent economic measures to support real estate companies

The recent economic measures taken by the government, including liberalizing exchange rate, will support the real estate companies and tourism, said executive chairman of Orascom Development Holding Samih Sawiris.

Speaking at the conference of "Sustaining the Real Estate Industry in Egypt", which was organized by the US Chamber of Commerce on Sunday, Sawiris said that the real estate sector in Egypt is promising, adding that the number of vacant housing units in Egypt is still big. 

Several companies and investors pump million of pounds in the real estate sector in order to avoid investment risks, he went on to say. 

He further called for giving attention to the real estate projects of multiple-use in order to support the real estate market. 

The social housing, which was affected following the January 25 Revolution, can witness remarkable growth within the upcoming period, he added.

Talking about ongoing efforts to promote the tourism sector in Egypt, Sawiris said that the government should deal with this sector as an important source of hard currency and employment.