2014-04-03 05:10:03 - Egypt Real Estate Report Q2 2014 - a new market research report on companiesandmarkets.com
We believe that the real estate sector in Egypt will continue to stagnate in the face of a depressed economy and continuing political unrest. However, we have predicted a rise in rental rates in Cairo, New Cairo, and 6th of October City due to a stagnation of new supply to cover slightly increasing demand, especially for space in safer suburbs such as New Cairo and 6th of October City. Future political upheaval may continue to negatively affect all sectors, but specifically Cairo and Giza as businesses flee to the safety of the outskirts.
In spite of Egypt´s long-term potential, the country continues to be susceptible to instability and will be characterised by the aftershocks of the Arab Spring in the short-to-medium
term. We see little prospect for a swift economic recovery in Egypt. Although we remain bullish in the long term, our most recent data continue to reveal the tangible effects of Egypt´s uneasy political transition on the commercial real estate market, with retail space suffering particularly from the country´s volatility due to its dependence on tourism.
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