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The real estate investment sector accommodates around 14 percent of the Egyptian workforce, chief executive of the country’s third largest listed real estate developer SODIC, Maged Sheriff says.
Speaking at Cityscape Egypt Conference which kicked off in Cairo on Wednesday, Sheriff further said that both real estate investment and construction sectors contribute 15 percent approximately to the country’s GDP.
This sector is the engine of Egypt’s economic development, since it contributes to the revival of more than 90 industries in the country, Sheriff added.
