Amidst the global economic challenges, the Egyptian real estate sector stands out as a remarkable exception, continuing to grow and prosper. So, what are the reasons driving this sector to defy market rules? And can this growth persist in the future?

Reasons for the Flourishing Egyptian Real Estate Sector:

• Price Attractiveness for Foreign Buyers:The devaluation of the Egyptian pound against foreign currencies has increased the purchasing power of Egyptians residing abroad and Gulf citizens.
• These buyers account for about a third of real estate sales in Egypt, forming a strong pillar for the sector.
• New Cairo in the Lead:New Cairo holds the largest share of first-home sales in Egypt, followed by Sheikh Zayed and 6th of October cities.
• These three cities alone account for 70% of the real estate demand in the country.
• North Coast Attracts Investors:The North Coast is witnessing significant demand for second-home sales, especially after the launch of the Ras El Hekma and New Alamein projects.
• Real estate companies are racing to establish projects in this area to meet the growing demand.
• The Role of Arab and Foreign Investors:Arab and foreign investors hold a substantial share of real estate sales in Egypt, thanks to their increased purchasing power.
• The entry of the UAE sovereign fund into marketing the North Coast region has attracted a large segment of Gulf citizens, particularly from Saudi Arabia and the UAE.

Future Growth Expectations:

• The head of the Real Estate Development Division at the Federation of Egyptian Industries expects continued growth in demand for Egyptian real estate products.
• This is attributed to the competitive pricing of real estate in Egypt, which attracts buyers from around the world.

Conclusion:

• The Egyptian real estate sector is witnessing remarkable growth, driven by both internal and external factors.
• The devaluation of the Egyptian pound attracts foreign investors, while the North Coast and New Cairo see significant demand from local buyers.
• Experts anticipate continued growth in the future, making the Egyptian real estate sector a promising investment opportunity.