Real Estate & Editors' Choice News in Egypt from Propertyshowrooms.com

Egypt top destination for Mena investors

Sat, 9 Oct 2010 00:00:00 GMT

Egypt is one of the top destinations for investment in the Middle East and North Africa (Mena) region, it has been claimed.

The country ranks just behind Saudi Arabia in terms of investor confidence, according to a recent survey of the region by Jones Lang LaSalle.

Indeed, the real estate consultant says that the surge in interest in Egypt is a reflection of the increasing activity taking place, with Middle Eastern investors doubling their investments in the first half of 2010 compared to the previous year.

Ayman Ismail, chairman of the Dal Al Mimar Group, said that Egypt's real estate sector has "robust" fundamentals adding that migration towards the bigger cities is acting as a driving force behind house purchases.

A further incentive for many investors to look at Egypt is the affordability of residential space, those looking at property in the country may be interested to know.

To this end, Mr Ismail argued that Jordan offers double Egypt’s price and Dubai offers four to five times as much.

Egyptian property will 'outperform neighbouring countries'

Mon, 14 Jun 2010 00:00:00 GMT

Individuals looking for real estate in Middle East and North African destinations would do well to consider the Egyptian property market, a new report has suggested.

According to Property Abroad, Credit Suisse has predicted that housing stocks in the region will outperform neighbouring countries and offer investors the best possible returns.

It is expected that the strong growth will be a direct result of demand for domestic housing, which will filter through into developers' sales this coming year.

Areas of the country which the international bank expects to do especially well include Cairo, where occupancy rates will remain at almost 100 per cent, and also the popular tourist destinations of Hurghada and Sharm el Sheikh.

Both the Red Sea Riviera cities have proved to be popular spots for investment for foreign buyers, with many looking to capitalise on their current relatively low prices.

A recent article by Gulf News suggested that an increasing number of investors are realising the potential Egypt has, with its strong GDP growth appearing attractive.

Property market conditions in Egypt are 'ideal for growth'

Tue, 13 Apr 2010 00:00:00 GMT

The property market in Egypt has performed strongly over the last couple of years and has been given another positive outlook for the forthcoming 12 months.

An article by Middle Eastern media and technology company Al Bawaba has drawn attention to the current strength of the Egyptian market thanks to a recovering economy and population growth.

It comes in advance of a Next Move property exhibition which aims to showcase investment opportunities in the country.

Speaking to the website, Ahmed Ghozzi, chairman of joint event organiser ACG-ITF, said that current market conditions were ideal for the property sector to experience further growth.

"Egypt's property markets have been performing exceptionally well over the past two years due to steady population and business growth," he added.

"With incentives such as exemption from capital gains taxes, lower prices and close proximity to major European travel destinations, we can look forward to increased investment."

A new airport terminal and increase in the number of flights offered to the region are sure to help boost Egyptian tourism and benefit individuals who have invested in the country.

Calzaghe seeks capital gains abroad

Tue, 5 Aug 2008 00:00:00 GMT

Boxing star Joe Calzaghe has revealed his intention to collect strong capital gains from his foreign investments.

The Welsh sportsman, who has held the WBO super-middleweight belt for more than a decade, has built up an extensive portfolio of overseas properties in recent years.

Speaking to the Sunday Times, he said he is using them mainly for investment rather than lifestyle purposes.

He commented: "I missed the property boom over here, but I like to visit new places and I find property investment fascinating."

Calzaghe stated that he now has so many foreign residences that he is unsure as to the exact number he owns, although he said his management keeps track of what is going on.

The boxer added that following his retirement, which is expected to come before the end of the year, he will devote more time to developing his portfolio even further.

Last year's winner of the BBC Sports Personality of the Year award now owns properties in countries as diverse as Turkey, Venezuela, Mexico, Egypt and the UK.