Stock market ready to finance expansion of real estate companies

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Mon, 18 Mar 2019 - 12:19 GMT

BY

Mon, 18 Mar 2019 - 12:19 GMT

Egyptian stock market - File photo

Egyptian stock market - File photo

CAIRO - 18 March 2019: Head of the Egyptian Exchange Mohamed Farid said on Monday the stock market is ready to finance the expansion of real estate companies, saying he is hoping to increase the number of registered real estate companies in the bourse.

This sector is very important for boosting economic growth, creating jobs and improving living conditions, Farid said at the conference organized by the American Chamber of Commerce.

Now, there are 36 real estate companies registered in the Egyptian bourse at a capital of LE 85 billion.

He noted that those registered real estate companies carried out 109 transactions to increase their capital.

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