Interview:Magued Sherif How are the development of new cities and demographic changes reshaping market demand and impacting real estate in existing cities? MAGUED SHERIF: People have been migrating out of the congested centre of Cairo for more than two decades. The new cities on the outskirts offer a greatly improved quality of life due to the planning that has gone into the development of…
Egypt’s economic reforms, such as the flotation of the pound in late 2016, the reduction of fuel subsidies and the wave of inflation that followed, have broadly affected household purchasing power in recent years. In turn, this has caused a fall in demand for real estate and impacted the sector’s overall performance. This has been compounded by the outbreak of Covid-19 in early 2020, which…
Since the country embarked on an ambitious IMFbacked economic reform programme in November 2016 the government has placed a strong emphasis on infrastructure and construction as a key engine of urban growth and financial stability. In the FY 2019/20 budget LE140bn ($8.6bn) was earmarked to obtain new resources, develop infrastructure, and improve roads, electricity, water and sanitation networks.…
The outbreak of Covid-19 in early 2020 brought disruption to all sectors of the economy, and the real estate market was no exception. While the full impact of the pandemic remains to be seen, the real estate sector is likely to experience difficulties in the shorter term as state funds are redirected to tackling the crisis. However, the government’s LE100bn ($6.2bn) stimulus package introduced…
Cityscape Egypt 2020 Under the theme "The Future is Now", Cityscape Egypt is taking place on 16-21 September 2020 in Cairo. The conference is Egypt’s premier annual knowledge and networking forum, gathering over 300 top-level industry professionals under one roof to exchange ideas, information, trends and business opportunities. Delegates to Cityscape Egypt are counted among the leaders of the real…
Egypt Projects 2020 A World-Class Construction Event Brought To You By The Experts Since its creation in 2016 under the name Batimat Egypt, Egypt Projects has been a pioneer event in the construction and building materials sector and has acquired a worldwide reputation after three successful editions. The 4th edition will be held from 27 to 29 February 2020 at the Egypt International Exhibition Center…
COALTRANS MENA Coaltrans MENA is returning to Cairo in 2020 following a successful 2019 event, which brought international coal producers and traders together with local procurement executives. The 2020 conference represents an excellent opportunity to meet coal buyers from Egyptian cement companies, as well as buyers representing the regional anode industry, aluminium steel producers and Turkish…
Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the globe. This mass rural-to-urban movement of people and expansion of cities to absorb formerly isolated villages is a relatively recent phenomenon: in 1950 only 751m people lived in urban areas. By 2018, however, the number of urban dwellers was estimated at 4.2bn, equivalent to roughly…
Although the devaluation of the Egyptian pound in late 2016 pushed inflation upwards, strong longterm economic fundamentals have maintained interest in the real estate sector. On the other side of the spectrum, real estate developers have been able to adapt their offers to the new needs of Egyptian buyers, and have progressed with ongoing plans for housing, office space and new retail areas.…
Several years of instability have brought difficulties for Egypt’s economy, although the impact has varied across sectors. However, the country is experiencing a recovery, with the IMF estimating that GDP will increase by 5.5% in 2019, up from 5.3% in 2018. The construction industry is poised to remain one of the most dynamic sectors of the economy. This has been apparent in an increase…
