The 7^th Real Estate Debate 2023

In the Egyptian market, the property sector remains the most dynamic and attractive for investments, given its association with citizens and the attention paid by the government to reinvigorate this sector as a critical driver of development and an operator of other industries. Still, more recently, property developers, contracting firms, and engineering consultancy businesses have taken concrete steps to search for business opportunities in foreign and neighboring markets to replicate the successful Egyptian experience.

To this end, the New Urban Communities Authority, affiliated with the Housing Ministry, is massively increasing investments on an annual basis to implement the required infrastructure for the development of new cities that are being created in most provinces.

Moreover, new generations of property developers have entered the market in eastern and western Cairo and other vital areas. Further, there have been local developers establishing affiliated arms to work in external and nearby markets.

Foreign reports state that Egypt is a healthy market for investing. The real estate sector is one of the most vital sectors, as the property market is projected to see considerable growth in the future, which would help investors take advantage of available opportunities. This would also increase the prospects for success of Egyptian experiences in nearby markets such as Saudi Arabia, the Emirates, Iraq, and some African countries, which became clear to everyone at the September Cityscape Global exhibition in Riyadh.

However, before presenting the hundreds of advantages offered by the local property market, the challenges facing the sector and its players should not be ignored. Among these challenges are escalating construction costs, solvency inadequacy, and difficulties in rationally pricing units intended to be sold due to fluctuations in building material prices.