Across the years, Egypt’s had a strong symbiotic relationship with real estate. The industry has remained to be a favoured, surefire method for investment to Egyptians. It’s withstood the test of almost, well, everything. Be it currency devaluations, financial crises, or even a pandemic, real estate assets are regarded as solid hedges against any economic trials or tribulations.
To get a better grasp at the state of real estate in Egypt, we’ve partnered with real estate giants Savills Egypt to get an industry insider’s explanation of the country’s real estate landscape. Egypt’s considered a standout in the region for being a hotbed for real estate developments, mostly for its distinct demographic. Currently, the population stands at over 100 million, with a 2% per annum growth added each year. That’s 2 million people each year.
“The population of Bahrain is at 1.5 million, that’s the whole country. We’re adding more than a Bahrain every single year. So, the scale of the development is huge,” Catesby Langer-Paget, Head of Savills Egypt tells WAYA. “
To compliment this spurt in Egypt’s population, major real estate developments have gone into full swing on both sides of the capital. People are starting to vacate Central Cairo, and seeking the ever-evolving West and East Cairo, or soon, the new megacity on Cairo’s horizon, the New Administrative Capital.
Despite a pandemic that’s brought an onslaught of setbacks for several industries, real estate in Egypt has not only remained afloat, but is looking to boom. To have a more cohesive looks at all of the facts and figures at play, Savills Egypt has directed its research prowess to create ‘The Property Report’, an in-depth look at the whole of the Egyptian real estate market.
We sit down with all of the key figureheads at Savills Egypt to go through the landmark report, and give a full explainer of all the insights it brings, all under 7 minutes. You can watch the full video below, and read the ‘The Property Report’ by Savills Egypt right here.
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