Innovative property investments
Egypt Property Investment News
Optimism in the future of Egyptian real estate
Recent figures released by the Egyptian government show a strengthening economy, while the country’s real estate industry as a whole is said to be enjoying a boom period after decades of stagnation.
Unlike many countries where the property market is largely fuelled by the potential of its tourist trade, many of Egypt’s coastal areas have long been established as popular tourist hotspots. Visitor numbers continue to rise year-on-year fuelling the strong demand for holiday rental accommodation and so strengthening a large proportion of the market for investment property in Egypt. However, 50% of Egypt’s residents live in urban areas and there is considerable potential in centres such as Cairo.
The managing director of Sixth of October for Development and Investment Company (Sodic), Maher Maksoud, attributes the growth of the real estate market largely to the attitude of the government and its “true commitment to grow using foreign investment and the private sector as its primary engines of growth”.
Sodic is now taking advantage of the emerging demand and has major projects underway for the development of two urban centres within the suburbs of Cairo, with construction scheduled to start during 2008. It is estimated that the projects will cost $2.4 billion and $1.6 billion respectively.
The outlook for Egypt’s economy as a whole looks positive, according to the latest figures from the Ministry of Economic Development. According to a report released recently by the Ministry, the country’s unemployment fell to 8.9% in the third quarter of 2007, compared to 11.1% during the same quarter of 2006. Othman Mohammad Othman, the minister of economic development, confirmed GDP growth of 6.85% during the first quarter of the fiscal year 2007/2008.
Related items
Documents and Reports
 |
Egypt property investment report (392Kb) |
Recent articles
Work and money worries 'make holidays necessary'
Britons shun traditional tourist spots
Investors cash in on Egyptian tourism
Egyptian authorities aim to boost tourism
Other related pages
Bookmark with: |
What are these? |
10-20% pa for 12 years
Contracted income
with guaranteed
capital appreciation
Agricultural land
investment operated by
public listed company.
|
|||||||||||||||||||||||||||||||||