The real estate market in Egypt continues to present positive growth indicators for the upcoming 2019 to 2021 period, according to Ayman Sami, the JLL country head-Egypt. Sami noted that the market is expected to attract foreign direct investment in order to restore the international position of Cairo as a competitive and a leading real …
The real estate market in Egypt continues to present positive growth indicators for the upcoming 2019 to 2021 period, according to Ayman Sami, the JLL country head-Egypt.
Sami noted that the market is expected to attract foreign direct investment in order to restore the international position of Cairo as a competitive and a leading real estate investment destination.
“The market currently enjoys unique flexibility in conducting business, this is especially evident in Cairo. The increased population growth, reduced inflation, and the prospect of falling interest rates have resulted in an increased demand for real estate investment. This demand is particularly noticeable in alternative real estate assets, including healthcare, education, and industries,” he continued.
In a press conference on Wednesday, JLL, a real estate investment advisory firm, revealed the key factors the firm believes will determine the outlook of Cairo’s real estate market in 2019, as well as the emerging opportunities and uncertainties that are prevailing in the market.
At JLL’s annual ‘Year Ahead’ event in Cairo, the firm highlighted that the growing foreign investor’s confidence in Cairo’s residential sector performance remained positive across Cairo’s residential sector in 2018.
JLL noted that the growth in the off-plan sector did however impact the secondary market negatively, as buyers preferred to hold off and wait to purchase off-plan units. The rental market has benefited from increased demand for temporary housing.
“Looking ahead in 2019, there is a clear direction toward a decrease in down-payments, flexible instalment plans, and an abundance of offerings in the major cities and coastal locations. In addition, Cairo is rated as one of the most competitive and stable cities in the world when compared to Paris, London, New York, Madrid, and Istanbul. This is due to competitive prices, affordable living costs, and a stable political environment,” Sami noted.
He pointed out the increase in flexible office space demand in Cairo globally–evolving demographics are shaping the office landscape and Cairo is adopting the trend for flexible office space.