Arab, Foreign Investments Hit $5.7 Bn in 2011

Total Arab and foreign investments reached $5.7 billion in 2011, said Chairman of the General Authority for Investment and Free Zones (GAFI) Osama Saleh. This came on the occasion of inauguration of "Cityscape- Next Move" international exhibition that will be held in Cairo on February 20-23.

Saleh said that the plan of investment sectors in Egypt had seen some changes following the January 25 Revolution; namely a reduction in investments in tourism, construction and communication as well as in real estate due to high supply and low demand.

He also noted that real estate companies were required to provide more facilities and attractive offers to help promote the real estate sector and to pump new investments in fields of housing, infrastructure and urban planning.

He also asserted the importance of convening this real estate forum in this decisive stage, and pointed out that the exhibition represents a positive step to restore economic activity and push real estate investments ahead.