The Egyptian real estate market has become the focus of interest on the part of several multinational companies, some of which are now in the process of conducting feasibility studies on the promising sector.
According to experts, the real estate market in Egypt is more stable than that in the Gulf. This is especially the case with Dubai, where the market is currently experiencing a major recession, with rents falling by as much as 60 percent in some cases.
“Egypt has a promising real estate market,” said real estate developer Hisham Shokry. "Multinational companies can make handsome profits."
Shokry explained that the feasibility studies currently being conducted aim to assess the stability of local economic growth, the population growth rate, and gaps between supply and demand.
According to global real estate service provider Jones Lang LaSalle, Egypt is second only to Saudi Arabia in terms of real estate investment opportunities.
Translated from the Arabic Edition.