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Cairo Real Estate Market Overview - Q1 2016

The major factor influencing the Cairo real estate market in Q1 has been the devaluation of the Egyptian Pound (EGP). On 14 March 2016, the Central Bank of Egypt announced a 14.5% devaluation in the official value of the EGP from its previous level of EGP7.73: US$1 to EGP8.85. The CBE’s objective for this devaluation is to create a more stable economic climate, attract foreign investment, bolstering confidence in the banking system and its ability to finance major projects.

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