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FINANCIAL NEWS
2.000 real estate firms exit Egyptian market due to price hikes
15 Mar 2017
(MENAFN) Almost 2.000 real estate contracting firms exited the market last year, out of 30.900 companies operating in the Egyptian market due to the price hikes of construction materials.
Accordingly, the delay in the issuance of the Price Differentials Law; called the Compensation Law, will lead to the exit of more firms amid the coming period.
However, the construction sector faced many issues, involving price hikes, the value-added tax (VAT) and bank interests, in addition to liberalization.
Meanwhile, the state must focus on the regional contracting firms, particularly as the sector has succeeded in acquiring 99 percent of large and small national projects.
MENAFN1503201700450000ID1095314688
MENAFN1503201700450000ID1095314688
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