Crisis of the weak pound affects the stability of the real estate market in Egypt. Egyptian billionaire Naguib Sawiris is one of those most disturbed by exchange rate fluctuations and rising costs.
He described the market as a “time bomb” due to the high cost of construction, especially since about 35% of these Cost is a real estate component. The price of building materials increased between 100% and 300% in two years. The age-old pricing dilemma during contracting due to rising costs ofBuilding materials, import restrictions and increasing demand.