About Investing in Egypt
In the past few years, Egypt has enjoyed some of its best economic times. This has been backed by strong government reform to attract foreign and domestic investors. This lead to the participation of some of the largest companies in the regoin looking for new investment opportunities. International Construction Development Companies like Damac properties and Emaar are strongly participating in the real estate sector with projects such as Gamsha bay and Marasi. UAE based Etislat Telecommunications provider acquired the third license to operate in Egypt, in return for some 3 Billion US Dollars.
With so many construction and residential development project currently in motion, there still remains plenty of room for new ones. Some massive areas are yet to be developed, such as large portions along the coast of the Sinai Peninsula, the red sea coast and along the northern coast on the Mediterranean. Each of these areas provides different, yet breathtaking beaches. The few constructed portions in these areas are very popular among tourists.
Before the financial crisis swept across the world, Egypt was enjoying a 7.0% GDP growth. Even in these unsurpassed tough economic times, Egypt has been one of the least sufferers. Some tough banking laws coupled with a strong central bank, has kept a firm grip on shady loan practices. The outlook for the Egyptian Economy stays strong, and the Government has committed itself into cutting the deficit to 3% of the GDP by 2010/2011.
A great place to start and obtain more information is the Egyptian Minsitry of Investment.
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