Investors raised the rush of the northern coastal region in Egypt after the UAE launched the famous ‘Race Al -Hikma’ project of $ 35 billion in February 2024. This is accompanied by a strong rise of buyers about the projects announced consecutively. But the property market in the region was a number of developments in which the head of the iceberg was a leap of prices at an unprecedented rate. This high cost of exacerbation, and the fear of a real estate bubble, forced the Egyptian government to take a series procedures, including the imposition of additional fees on the developers, and the suspension of the sale of new countries in the northwestern coast (west of Al -Hikma), as well as the freezing of the handling of 50 enterprises. For the property, the decision to lay the fees is positive, especially for those who received countries and did not develop them, but they stored it. Local developers, up to 1,000 pounds per meter, according to an official document seen by Sharq two days ago. The sales unit; This increase in project studies can be included in the buyer. The government document is represented in the decision of the urban community authority to stop the sale of new countries in the northwestern coast (Western -Al -Hikma) until the prices are by a specialized committee, in light of the developments of the “Race Al -Hikma” project and the highway development projects, “according to the document. Additional countries so that the market can take up the new projects and start reaching good sales. According to the document that the East was seen.
How is the real estate card on the northern coast in Egypt formed again?
