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Egyptian Resorts sells shares after property sales decline
Egyptian tourism company and landowner Egyptian Resorts is reselling 25 million treasury shares to boost profits after low land sales so far this year, the company said on Thursday. The period for selling the shares is Oct. 7 to Nov. 6, the company’s investor relations manager Abu Bakr Makhlouf said. Property sales in Egypt have declined... »
Egypt to impose real estate tax
Egypt plans to introduce a real estate tax law from January next year for commercial and residential properties. At the top end of the tax range, properties valued at EGP1m will be taxed EGP660, while houses and flats worth less than EGP450,000 will not be taxed. American Chronicle »
Investors increasingly setting their sights on Egypt property
Image via Wikipedia The possibility of snapping up a bargain property is drawing many foreign investors to Egypt, an expert has stated. Paul Collins, spokesperson for the BuyAssociation website, stated that the country was very popular because of the relative affordability of high-quality houses. He added that the country’s weather was also a strong draw for... »
