The Role of Real Estate Development in Egypt's Economy

Abstract

Real estate development is the process of creating value by making tangible improvements to real property and determining the maximum benefits from land, so it is a multifaceted business process. It plays a significant role in countries' economies. More than hundred supplementary industries depend on it, which allows millions of working opportunities in all levels of professions. Real estate market is covered by mechanics of supply and demand. It is influenced by environmental and economic factors, political conditions, societal changes, the enact laws and government decisions. Therefore, the paper aims to monitor, study and analyze the real estate development in Egypt as one of the main pillars of the economy during the past five years.