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All sectors of the Cairo real estate market exhibited positive performance and improved sentiment during Q3 2015, with the office market signaling the most growth. While domestic sentiment towards the residential market remains positive, prices have declined in US dollar terms, due to the recent devaluation of the currency by the Central Bank. The Retail and Hospitality sectors continued to exhibit slow but steady growth during Q3.
The completion of the New Suez Canal project is creating major real estate development opportunities and the government is actively seeking to partner with private developers, particularly in respect of new industrial developments along the canal corridor.
A number of development partnerships are also being formed to undertake the Cairo Capital City project that was announced earlier this year, but no formal announcements have been made in respect of this project to date.
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12 October 2015