The Potential
Realizing the national need and the strategic importance of
construction to economic development, the Government of Egypt
has taken major measures to encourage and support
infrastructure planning, new communities' establishment and
tourism development. The last decade has witnessed massive
developments on the Mediterranean coast, Sinai, the Red Sea,
suburban Cairo and new industrial zones. These developments
are largely sponsored by prominent business groups and
financial institutions.

The residential and resort real estate markets in Egypt have
experienced a boom in the nineties, wherein numerous new real
estate development projects have been undertaken to address
the country's needs for further development.

The demand for development has been high since 1996 due to
extensive private sector construction of tourist resorts and villages
in new attractive areas at the Red Sea coast, Sinai and the North
Coast. Rapid growth has taken place at a sustained rate of 22%
with the expansion expected to continue over the next years.

Remco has taken full advantage of government support and
incentives provided via infrastructure projects in the new areas, as
well as tax and investment incentives. The company continuously
seeks new business opportunities focusing mainly on new
residential areas and tourist destination that are yet to be
exploited.