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Cairo Real Estate Market Overview - Q3 2014

The third quarter of 2014 saw further political stability as the regime proceeded with implementing its roadmap. Following the reduction of energy subsidies, the government is currently reforming the tax system, a measure that should boost the economy and halve the budget deficit within seven years, according to the Finance Minister. The positive sentiment that has placed the economy on the road to recovery is reflected in the announcement of the ambitious Suez Canal Regional Development Project. The plan to expand Egypt’s economic lifeline is expected to draw in domestic and international investment and finance industrial and export services as well as reinforcing the industrial and logistics backbone of Egypt’s economy. Blueprints for other major national projects are also being prepared, including the ‘Golden Triangle’ which aims at exploiting the natural resources and mineral wealth in Upper Egypt. Against this improving economic backdrop, the third quarter saw increased confidence in the real estate market. Demand remains relatively active across all segments and developers are moving forward with both new and re-launched projects.

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