In many ways, Algeria finds itself in an enviable economic position, particularly when compared with its regional neighbours. It holds the fourth-largest oil reserves and the second-largest natural gas reserves in Africa. Ample hydrocarbons revenue has allowed the government to channel capital into public expenditure programmes on infrastructure, health care, education, social housing and subsidies.
House prices in Saudi Arabia are expected to rise further on the back of high demand for homes and a slow rollout of developments, with figures suggesting housing requirements will continue to outstrip supply even as new projects reach completion.
Like many sectors in the country, construction has had more than its fair share of challenges in recent years. Yet in spite of the downside risks, the prospects for the building industry have not been brighter for decades. As Ayman Tolba, the chairman and CEO of Leena Real Estate, told OBG, “Egypt’s young and growing population can support strong growth in the construction of...
A tried and tested solution to many breaches of the law throughout the world is to legalise the activity – and then tax it. This is the approach the Egyptian authorities have considered towards the issue of illegal construction. A draft law put forward in August 2014 will permit an amnesty period of six months in an attempt to tackle a problem that has existed for decades, but...
Mortgages on property of all kinds have been available in Egypt for the past 13 years since the relevant law, No. 148, was introduced in August 2001. Yet only recently have there been moves to provide financing for home-buyers seeking to repay their loans over longer periods of up to 20 years. It is estimated that as many as two-thirds of individual home purchases are paid for...
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