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Egypt property prices 'stabilising'

Date : (News Section: Egypt)

Egypt property prices 'stabilising'

A degree of stability is returning to Egypt's real estate sector, with property prices beginning to recover.

This is the opinion of Harshjit Oza, a real estate analyst at Beltone Investment Bank, who told Daily News Egypt many of the nation's biggest developers have dealt with problems relating to the acquisition of land under former president Hosni Mubarak's government.

"Prices are starting to stabilise again, the confidence is back and land issues are being resolved. TMG (Talaat Moustafa Group) is fairly out of its land disputes and that was a big relief for them, as well as the whole sector and investors," Mr Oza stated.

TMG is one of the country's largest property developers and has been involved in numerous large-scale residential projects, such as the construction of the 10 million sq m scheme Al-Rehab City, which is situated 20 minutes away from downtown Cairo.

Mr Oza went on to predict there will be a rise in the level of sales completed in 2012, compared to 2011, with the final two quarters of this year expected to be particularly strong.


Article by +Peter Mindenhall on behalf of

Read More

  1. 13 November 2013 - Progressive taxation rejected in Egypt
  2. 28 October 2013 - Effects of Egyptian political crisis on property remain unclear
  3. 04 October 2013 - Residential Egyptian property to be investor 'bread and butter'
  4. 18 September 2013 - Egyptian real estate still capable of growth
  5. 05 August 2013 - Is Egypt running out of development land?

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