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Egyptian development gets go-ahead

Date : (News Section: Egypt)

Egyptian development gets go-ahead

Demand for property in Egypt could be set to rise following news that a major developer in the country is planning to push ahead with plans to build a new 3.5 million square metre housing project.

Named Tigan, the development is worth approximately $3.4 billion and will be completed by Nasr City Housing.

The project went on hold during the recent political uprising in Egypt, but is now about to go back into action, Overseas Property Professional reports.

Meanwhile, it was recently claimed that savvy investors are looking to take advantage of the opportunities that have presented themselves within the Egyptian property market.

Steven Worboys, managing director of Experience International, explained that in the wake of recent political upheaval in the country, buyers are finding that they can purchase real estate within popular tourist resorts at a reduced cost.

"The most long-sighted investors will turn events as have occurred in Egypt into an opportunity," he noted.


Article by +Steve Binge 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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