Selected locations are seeing growth
Jones Lang LaSalle says that there is growth in the residential and retail sectors in Cairo.
Despite ongoing political and economic challenges facing the country, property prices in the Egyptian capital are rising in selective locations, the US-based property consultant says in its first quarter 2013 Cairo Real Estate Overview report.
“Although we are continuing to experience ongoing challenges facing the Cairo and wider Egyptian real estate market we are seeing selective demand and new developments in both the residential and retail sectors within this market,” said Ayman Sami, head of Egypt office at Jones Lang LaSalle. “The office sector has also seen a number of leasing transactions in the first quarter and the residential and retail sectors have witnessed a number of new project launches and the start of several new projects including the ‘Mall of Egypt’ which will be the largest mall in the country.”