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The hot topic during 2016 was the decision of the Central Bank of Egypt (CBE) to float the Egyptian Pound and the impact this has had on the real estate market. The Egyptian Pound showed signs of increased volatility following the devaluation and in December of 2016 lost 52% of its value. Such a rapid devaluation has resulted in uncertainty and has delayed decisions by both investors and occupiers who are waiting to see where the EGP will settle in value.
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16 January 2017