Hotels 'a target' for property investors in Egypt
By James Roberts

Hotels 'a target' for property investors in Egypt

Property investors from the Middle East are keen to invest their money in residential real estate and hotels, the 2011 Colliers International Global Investor Sentiment Survey has revealed.

According to the research, hotels in particular will be a target in Egypt due to the country's robust tourism sector.

John Davis, chief executive officer at Colliers International, commented that many investors will be waiting to learn the result of the elections and see if a new government can bring more stability to the nation.

However, he added: "Their conviction in the country's long-term fundamentals, especially in the tourism sector, will likely drive opportunistic acquisitions of hotel assets."

Office space in Egypt is another asset type that looks set to attract investors over the coming months, the survey found.

Many respondents from the country believe that demand for such properties is set to grow, particularly in New Cairo, with businesses seemingly keen to leave downtown Cairo in favour of this location.

Overcrowding and pollution in the downtown district were cited as the two main reasons that firms would want to move to an office in New Cario.

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