Housing projects in Egypt jumped by nearly 83 percent in 2023 over the previous year owing to a government drive to attract investment into various sectors of the economy, according to official data.

Investment in such projects totalled 262 billion Egyptian pounds ($5.45 billion) during that year compared with nearly EGP143 billion ($2.9 billion) in 2022, showed the figures by the Central Statistics Authority.

The report, published by Al-Ahram newspaper, showed around 240,000 housing units were built in 2023 compared with 246,000 in 2022.

(1 US Dollar = 48.51 Egyptian Pounds)

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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