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Despite on-going political and economic challenges facing the Cairo real estate market, selective growth can be seen in some residential and retails sectors in the city.
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. Tourist numbers have also increased and while occupancy levels are improving they are being offset by further falls in the average daily rates that is tempering any improvement in RevPAR.
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25 March 2013