Are the prices of apartments increasing .. the head of the Chamber of Real Estate Development answers
Tarek Shoukry, head of the Real Estate Development Chamber in the Federation of Industries, confirmed that real estate prices in Egypt are witnessing an increase in the coming period, as a result of the rise in cement and iron prices.
Tariq Shoukry said during his phone call to the "Al-Hekaya" program broadcast on MBC Egypt, that the cement factories located inside Egypt are able to provide the country's needs, continuing: Egypt will suffer by 50% from the crisis of high cement prices and the rest of the components.
He added that cement and iron prices rose by 80% during the last period, continuing: We expect the cost of origin to rise in the coming period by 10 to 15%.
He pointed out that the real estate developer has suffered a lot in the past period, especially after the rise in the price of the currency, stressing that real estate and apartments will witness an increase by next January.
He stressed that real estate financing is the only solution to avoid this crisis. He advised investors to quickly finish buying real estate now, before next January and the next crisis.
