you know I was shocked when I knew once the price of an unit /an apartment in San Steffano building in Alexandria last year ,the price for the small apartment as I heard was one million American dollar !!
Well it is nothing to compare believe me with what I heard today
I heard today from some sources that the price of a villa in the "Marassi" new city built by famous Emaar Egypt between Alexandria and Sidi Abdel Rahman is exactly 12 million Egyptian pounds 
You know it is not the mistake of Emaar but the mistake of those who are willing to pay this price , because any company must have its target market and with all these future grand projects ,they must know that they got a demanding market here ,that's willing to pay whatever the number on the price tag !!!
Man if I got 12 million pound ,I will go to a trip around the world 
Malaha Ras El-Br !!
Who knows
ReplyDeleteMay be some day you'll get two Chalets there, one for you and one for your servants.
ham yibaky we ham yidahak.
ReplyDeletenon of the pre revolution pashas had ever enjpyed the luxaries of our masters now adays. It is like we are going backwords. you know the 45 of egyptians get by less one U.S dollars per day. Annual income per capita in Egypt is $1000 about L.E 500 per month.
Definetly something is totally wrong.............
@tarek one 4 me and one 4 my servants that is equal to 24 million pound ,of course this is in another time in another life in another world
ReplyDelete@amr please read my Post about 23rd of July revolution
man I see people who live in tin ,I see children in streets exceeding more and more
the middle class is a disappearing rapidly and you know what this does mean in economy , before the 23rd of July we had an increasing middle class that reached to the top in 1960s and 1970s , than in the 1980s it began to decrease in a dangerous way
The Bashas did n't steal my dear friend , I know several families and big names before the revolution they didn't steal ,most of landlords and business men who really did something to this country and yet they didn't spend their millions on homes and cars ,I swear I know a man who spend millions in 1960 to buy machines from Germany , of course he was nationalized and the new owners stole the factories !!
Zeinab, trust me...you don't need 12 millions to go on a trip around the world :D
ReplyDeleteThen, honestly i don't see why people are pissed becasue of the multi-million pounds homes? It's relatively cheaper than many other less attractive places in the cities worldwide? Besides, its supply and demand and its good for the economy! As long as there r people with money and willing to buy...other people will build and give them what they want, this is how it works!
About the declining middle class, we should thank Nasser and the 52 economic mess!!!! He started it, and then we completed the demolition with our extreme consumption behavior...i guess i talked about that before!!
Cheers!
@yellow Egyptian ,I am not against these multi million houses , but from where they got this money !!??
ReplyDeleteyou know we are suffering from a real terrible economic situation
about Social classes , not really it is not Nasser's fault ,if you review the last report about the social and economic changes in Egypt in the last of 25 years,you will find that it decreased dramatically like in no other way
You can n't compare Egypt or apply the economic theories on it easily because we are not 100% free market nor 100% centralized
ma7adesh fahem 7aga!!
ReplyDelete