Dubai: The scope of the UAE’s involvement in Egypt’s newly proposed Capital City can just as easily be extended to other Arab countries, according to UAE Minister of Economy.
Such exposures will have the makings of a “model relationship”. “The UAE has gained tremendous expertise in the real estate field that could benefit other countries in the wider region,” said Sultan Bin Saeed Al Mansouri.
“The UAE’s involvement in this ambitious project [Egypt’s Capital City] reflects a pioneering initiative, and we look at it as a model that other countries can follow and emulate.
“Real estate forms one of the main pillars of any economy… is witnessing strong growth, especially in the Arab world. Both private and government sectors in Arab countries must take it seriously by taking actions like new legislation and liquidity.”
