Real Estate & Commercial News in Egypt from Propertyshowrooms.com

Optimism for Cairo property market

Tue, 28 Feb 2012 00:00:00 GMT

The long-term outlook for Cairo's real estate market is broadly positive, with signs of increased activity in the city.

This is the finding of a Jones Lang LaSalle report, which noted confidence in Egypt's commercial property sector is beginning to return following the revolution that overturned president Mubarak in January 2011.

Head of the firm's Egypt office division Ayman Sami stated the organisation is positive about the "long-term fundamentals of the Cairo real estate market", adding there needs to be consistent stability if the nation's economy is to fully recover.

"For the longer-term investor, Egypt will always be an attractive market with considerable potential," he asserted.

Last week, real estate analyst at Beltone Investment Bank Harshjit Oza told Daily News Egypt that property prices in the residential sector are fluctuating less than last year.

He went on to predict there will be a rise in the number of transactions completed in 2012, compared to 2011, with developers in the nation set to deliver more new units on to the market htis year.

Egypt 'in early stages of a real estate boom'

Wed, 8 Sep 2010 00:00:00 GMT

Egypt is in the early stages of a property boom, people hoping to find property in Muhafazat al Bahr al Ahmar will be pleased to hear.

Research from Business Monitor International (BMI) highlighted that rents and capital values in the nation have risen while yields appear to have fallen.

According to the body, there has been a substantial increase in the supply of commercial property across Egypt, addressing the issue of underdevelopment which has been going on for years, and providing property investors with the opportunity to add to their portfolios.

This increase in supply is also being met by a rise in demand, coming from Western multinationals and Middle Eastern companies relocating to Egypt.

"The result is that conditions are dynamic. Vacancy rates vary, but are generally low or falling. Looking ahead, we expect that the optimism of protagonists in the office and retail sub-sectors will be justified. There should be a double-digit increase in rentals in these sub-sectors in 2011; further - if smaller - rises are likely in the following years," the report stated, adding that capital values will rise more significantly than rentals and the general downward trend in yields will continue.

Besix Awarded Wastewater Plants In Abu Dhabi

Mon, 4 Aug 2008 00:00:00 GMT

(Arabic) Orascom's Besix has signed a EUR525 million JV with VEOLA water to construct and operate two new wastewater treatment plants for Abu Dhabi and Al Ain in the UAE...

Egypt Plans $7B Foreign Invest In Oil, Gas Exploration -Report

Mon, 4 Aug 2008 00:00:00 GMT

Monday, Aug 04, 2008 BEIRUT (Zawya Dow Jones)--Egypt plans to implement a program for oil and gas exploration and development in fiscal year 2008-2009 with total foreign investments of $7 billion, Cairo-based Al Ahram daily reported Monday citing Abdul Aleem Taha, executive president of the Egyptian General Petroleum Authority. Egypt's confirmed crude...

Sorouh and OCI to establish a new construction firm

Wed, 16 Jul 2008 00:00:00 GMT

(Arabic) UAE' Sorouh Real Estate has entered into a $80 million JV with Egypt's Orascom Construction Industries and will own 50% of its stake...

Egypt's CIB to take full ownership of CI Capital

Sun, 29 Jun 2008 00:00:00 GMT

[ARABIC] Commercial International Bank will acquire 50% of shares in CI Capital to become the full owner of the company...