Monday 25/November/2024 – 03:22 PM
He met with Dr. Mohamed Farid, Chairman of the Authority General Financial SupervisionToday, Monday, a large number of real estate developers, in a conference called the non-banking financial sector, Real Estate Development Financing Horizons, highlighted the importance of helping the real estate sector reach its goals by exploring financing opportunities from the non-banking financial sector, and Khaled Sheta participated in the opening session, Director General of the Conference, Engineer Ahmed Sabour, Chairman of the Board of Directors of Al-Ahly Sabbour Company, and Engineer Khaled Abbas, Chairman of the Board of Directors of the Administrative Capital Development Company.
Dr. Farid invested the meeting in reviewing all the financing solutions and services provided by the non-banking financial sector subject to the supervision and control of the Financial Supervisory Authority, touching on listing and offering on the stock exchange and the various solutions and opportunities it provides that help companies achieve their goals, pointing in this regard to securitization bonds and sukuks as well as mechanisms. Financing provided by the stock market that unregulated companies can benefit from, in addition to accounting standards that have been developed recently and help companies re-evaluate their assets at market value, as well as indicating real estate funds and how to benefit from them, as well as sustainability standards that Enables companies to develop and build residential communities in a sustainable manner.
The Chairman of the Authority indicated that the Authority will continue its dialogue with all market parties. In an effort to further develop and provide space for companies, clarify the reforms and available opportunities that resulted from these reforms, and try to find a common language of dialogue between the government sector on the one hand, and the private sector on the other hand. He pointed out the importance of the dialogues undertaken by the Financial Supervisory Authority, because it would not have been possible to answer the detailed inquiries of the attending parties had it not been for the discussions that the Authority had with them, and the holding of this conference is a result of these dialogues.
Dr. Farid said that the number of real estate companies whose shares are listed on the Egyptian Stock Exchange is 36 companies, with a market capitalization of 263 billion Egyptian pounds, and they have a return on equity of 19.7% with a net profit margin of 39.2%, pointing out that listing on the stock exchange enables companies to achieve Significant growth in its business volume and increases in ownership rights.
Ownership rights of five companies with a market capitalization exceeding 500 million pounds
The head of the Financial Supervision Authority explained that the ownership rights of five companies with a market capitalization exceeding 500 million pounds reached 19.1 billion pounds before offering the shares on the stock exchange, and witnessed a growth rate of 10.3 times to 193.3 billion pounds. At the level of medium-sized companies, the market capitalization of four companies reached 140.5 million pounds, but it jumped to 14.5 billion pounds at a growth rate of 103 times, which highlights the importance of listing on stock exchanges, noting also the importance of issuing securitization bonds as it is one of the main financing tools that allows companies Real estate and others achieve their goals.
The Chairman of the Financial Supervision Authority stressed the importance of technological innovation to benefit from the non-banking financial sector and enable the public to access all financial tools provided by the sector, ensuring financial, investment and insurance inclusion, which will benefit real estate funds. He said that the insurance sector helps sell real estate products to investors at home and abroad, by securing the title deed that protects the rights of buyers, noting that there are companies that have the ability and desire to bear this risk and that re-insure documents, enabling them to issue standard documents electronically.
