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Egypt's real estate boom awaits political stability, say investors

Amir Makar Daily News Egypt
The Cityscape Egypt-Next Move real estate exhibition in Cairo hosted some of the biggest players in the sector. (Daily News Egypt Photo / Hassan Ibrahim)

The Cityscape Egypt-Next Move real estate exhibition in Cairo hosted some of the biggest players in the sector. (Daily News Egypt Photo / Hassan Ibrahim)


CAIRO: The future is promising for Egypt, agreed a panel of local and foreign investors on Monday, but the exact timing of a recharged real estate boom, and the identity of the players involved, remain debatable.



“We’ve been selling the Egyptian story for many years,” said Michael Katounas, director of investment banking at Credit Suisse. Fundamentally, the very basics of supply and demand are strong and unique for the region, he added.

The panel was part of this week’s CityScape Real Estate Summit, taking place concurrently with the Cityscape Egypt-Next Move real estate exhibition in Cairo.

On the one hand, Katounas noted steady population growth, indications in disposable income and real estate demand; while on the supply side, world class operators are ready to deliver high quality products, with affordable housing in some cases.

While the environment is favorable for investors, he said, the real questions were those of risk: “when versus if” and “‘what I think” versus “how much.”

Katounas particularly highlighted that any unrest — whether real or perceived — has to be out of the system before any meaningful, sizeable investment can take place.


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