Research
Cairo Office Market Dynamics, Q2 2024
Summary and analysis of the Cairo's current office real estate market conditions.
July 18, 2024
Contributors:
- Faraz Ahmed
- Zenah Al Saraeji
- Ayman Sami
The office sector in Cairo experienced a recovery in business confidence during Q2, with increased inquiries for large office spaces due to the limited availability of high-quality Grade A supply. New Cairo emerged as a preferred location for tenants seeking to expand or relocate.
The Central Bank's decision to float the Egyptian pound brings stability, marking a shift in sentiment. This is expected to generate long-term improvement and growth opportunities.
Citywide average rents decreased by 2% annually, reaching USD 356 per sq. m. per annum.
