subsidize 24 million villa

I attended a meeting last week with a huge real estate company marketing represntative, it was something related to my work

the meeting lasts all day long

from 10.30 am to 5 pm

i went home with a terrible headache and wondering where am i exactly

all the way home i was telling myself (mohamed sobhy joke: morataby bekafiny we batbara3 belba2y lesadad dayon masr)

i know people differ in their extent of wealth

and in egypt lives couple of the most richest men on earth

and most of people can live (just live) in egypt in an above poverty (just above poverty) standard

BUT

and it's huge but

this statment was valid till 6 months ago

first i'll recall what i ve heared:

DAMAC company is making new projects in egypt to sell different real estate properties

- in a specific project (hyde park in cairo) the villa price is increasing weekly by 2%

- they didn't start digging yet, and they sold about 1000 villas

- they have a long waiting list for people who are waiting the next lot of villas to buy it

- the buyer are egyptians

- some villas are 24.000.000 LE

check what's written on the website

Hyde Park

Spread across 4 million square meters, Hyde Park is the most exclusive villa development with Detached and Attached Villas nestled with a 1 million square meter landscaped park, the biggest private park in Egypt. Designed to suit multi-cultural tastes, the villa designs range from the Neo-Classical, Italian-Country to California-Spanish styles. Set atop beautiful vistas and surrounded by Egypt's natural beauty, your home will be amidst striking landscapes and beautiful water features. A gated community with several entrances, 24-hour security and controlled entry, living here is designed to give you total peace of mind and privacy.

Centre Ville

Park Avenue

NOW

it's totally healthy for the economic environement to have various standards of everything

low cost, average cost and high cost of every good

so similar projects are certainly required

what i'm wondering about is not the good, it's the buyer

if we put in mind that in the past 6 months, the economy were ruined by the gas and other goods high price increasing

AND more

the dollar interset is down to less then half

so any rich man who has 1 million dollars in the bank, he used to get more the 4% interest

meaning: 10000000*.04/12 =3.333$ monthly

but now the intersest is alomst 2%

so this means he now get 1.666$ monthly

and what makes egyptian economy a genuis record candidate is that

the dollar exchanging price is decreasing and the deposit interst tooo

it's an economical miracle because the interest rate should get up when the currency value get down and viseversa

that's not happening

so who owned 1000000$ 2 years ago he had 1000000*(5.7 to 7) LE and monthly income about 3.333$

but now he have 1000000 * (5.3 to 5.5) LE and monthly income about 1.666$

again people are loosing their wealth, value of their stocks

so who buys these A+++ real estate properties???????????????????

another question:

how many are they? projects like this are expanding more and more

now we have A+, A, B+, B standard real estate projects

it's good and healthy economically

but my question is? if the dollar deposit lost 50% of it's value, and the inflation is up by more then 30%

where all that money come from? and how ?

this makes me get to the next step

an important percentage of the egyptian people are wealthy enough to pay 2 to 24 million to buy a house

and they aren't counting on their money to live

but they share the governmental subsidize with us (the rest poor people)

if anyone from whom can afford even 2 million dollar house isn't using his share of subsidized bread, gas, .. etc

the rest who really need it will find it

the current economical situation is wrong

it's like a father who have 10 kids and one bread

and because he's a father he should give a fair share to every child so every child took 1/10 of a bread or a small bit

while 5 of his children have already eaten before and don't need more

and yet this creates another problem: who exactly needs the subsidize and who don't?

and what if someone today is declared rich and don't need a subsidize, and then another price increasing wave happens, will he be able to live without subsidize?

i believe in such communities (where a villa is worth 24 million ) no gas, water, electricity subsidize should apply, i mean people in these community should pay for electricity a bit higher then people in abies or nady elsaid (ابيس / نادى الصيد)