Optimism for Cairo property market

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.
 

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