The real estate market in Egypt continues to be positive growth indicators for the upcoming 2019 to 2021 period, according to Ayman Sami, the JLL country head-Egypt.
Sami noted that the market is expected to attract foreign direct investment in order to restore the international position of Cairo as a competitive and leading real estate investment destination.
"The market currently enjoys unique flexibility in conducting business, this is especially evident in Cairo. The growth of the population, reduced inflation, and the growth of the real estate market. This is particularly noticeable in alternative real estate assets, including healthcare, education, and industries, "he continued.
In a press conference on Wednesday, JLL, a real estate investment advisory firm, has revealed the outlook of Cairo's real estate market in 2019, as well as the emerging opportunities and uncertainties that are prevailing in the market.
At JLL's annual 'Year Ahead' event in Cairo, the firm highlighted that the growing foreign investor's confidence in Cairo's residential sector continued positive performance across Cairo's residential sector in 2018.
JLL noted that the growth in the off-plan sector did not, however, have a negative impact on the market. The rental market has benefited from increased demand for temporary housing.
Looking forward in 2019, there is a clear direction towards a decrease in down payments, flexible instalment plans, and an abundance of offerings in the major cities and coastal locations. In addition, Cairo is rated as one of the most competitive and stable cities in Paris, London, New York, Madrid, and Istanbul. This is due to competitive prices, and a stable political environment, "Sami noted.
He pointed to the increase in flexible office space in Cairo.
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