Ashraf AboArafe reports
Turkish Ambassador to Cairo, Salih Mutlu Şen, praised the significant developments in Egypt’s infrastructure, housing, and new cities, affirming that this transformation makes Egypt “extremely attractive” to foreign investors—especially Turkish ones.
In a special televised interview, Ambassador Şen described recent years as a major turning point for Egypt’s real estate market, pointing out that new cities like the New Administrative Capital and Alamein have become prime destinations for both local and foreign buyers.
Infrastructure Driving Economic Change
Şen noted that Egypt has witnessed “two key developments” in recent years:
- Remarkable progress in infrastructure
- Rapid growth in superstructure elements like housing, smart cities, and business centers
He added that many Egyptians now own second homes in attractive areas such as Gouna, Ain Sokhna, and Alamein, with expectations that this trend will expand to Ras El-Hekma and other coastal zones.
Turkish Interest in Investment Opportunities
The ambassador revealed ongoing discussions with major Turkish construction firms, many of which have expressed interest in developing economic zones in Egypt. He also mentioned a Turkish company that is already implementing a strategic megaproject and is exploring new opportunities in infrastructure, housing, and hotel development.
Call to Ease Foreign Property Ownership
Comparing the Egyptian and Turkish real estate markets, Şen stressed the importance of:
- Facilitating property ownership for foreigners
- Granting automatic and long-term residency permits upon purchase, as practiced in Turkey and Greece
He asserted that such policies would greatly enhance Egypt’s appeal to international investors.
2024: A Record Year in Trade Relations
Ambassador Şen declared that 2024 was the “best year in the history of trade between Turkey and Egypt”, with bilateral trade volume reaching a record $8.5 billion. He expressed optimism that a similar or even higher figure would be achieved in 2025.
Turkish Tourism Sector: A Success Story
The ambassador described Turkey’s tourism industry as a “success story”, attributing its achievements to strong government support and effective promotion. He acknowledged Egypt’s efforts to simplify visa procedures for Turkish citizens, which has led to a rise in Turkish tourist arrivals.
He emphasized the mutual will and strategy between the two nations to develop tourism further—especially cultural tourism in Cairo.
A Personal Bond with Egypt
In closing, Ambassador Şen shared his fondness for Egyptian cuisine, particularly Alexandrian fava beans, baladi bread, and koshary. He also expressed admiration for Egyptian arts, singling out Umm Kulthum, who he said enjoys widespread fame in Turkey.
