The company expects the Central Bank of Egypt to cut interest rates by at least 1%, which it believes will open up new avenues for real estate developers to finance projects and boost investor confidence, LMD's Chief Financial Officer Mohamed Abdel-Moneim said in a statement.
Abdel-Moneim added that the move would also enhance the
country's appeal for local and foreign investment, supporting economic growth,
particularly in the real estate sector.
The company anticipates this step will create a real opportunity
to boost activity in the Egyptian market and increase demand for real estate
projects, aligning with LMD's vision to develop integrated communities that
meet the state's ambitions and support the national economy, which has achieved
remarkable growth driven by government efforts in trade, industry, and
agriculture.
This has contributed to increased exports, a balanced balance of payments, and a stable exchange rate, leading to a decline in the value of the US dollar. As a result, many Egyptian and foreign investors have an optimistic outlook on the Egyptian economy for the coming years, he added.