2023埃及房地产市场报告

CONTENTS O GCC Investments in EgyptO Growth Engine: Egypt's Residlential MarketO Our Survey9O In Focus: Developments in Greater Cairt17o Homefrom Home21O An Enmcrging Favourite: Developments on the North Couast27O In Demancl: Red Sea Coast Homes29O Calling All Frequent Flycrsa1O Investment Concerns88O A World ofOpportunities37 OUR 2028 BRANDINGFOR DESTINATIONEGYPT The brancling for our inaugural edition ofDestination Egrpt rectleets the country's5,000 year history. Our bolcl colour palette has been inspirexdIy the pageantry of anrient Fapt. The noble 5carah beetle tan imjxortantsymhol in ancient Fgypt takes centrestage on our front cower, representing theternal circle of life and alsn thc.heginning ofthe Fgyptian real estatemarket's renaissnce. FOREWORD Lhe Gull' Cooperation Council (GCC) lor Egyplian real estale. This report coincides with Knight Frank's entry into Egypt - the lalest node in our MiddleEast and Africa network - and the emergence of Egypt as one ofthe lastest growing reulestate markets in North Africa. The land of the Pharaohs and a thousand suns has become a focus for Middle Eastsovereign wealth funds, which have announced plans to invest as much as Uss ll5bn inthe last two-and-half years across Egypt. These elorts are expected to boost business activity and the country's economic growth.Inwarcl investment into real estate is expceted to rise - particularly among the well hecledIrom the Gulflooking for second homes. An investment in Egypt's residential market comes of cour'se with the adlderl benefit ofbeing more reaclily aceessible after the Egyptian government earlier this year removeclrestrietions on foreigners owning property in Egypt. OurresearchcletailstheaspirationsofGCCinvestors,whilealsotakingacloserlook atthcirbudlgets, target real estate sectors and preferred investment loeations in Egypt, Althoughthe market faces challenges -- most notably, sharply rising inflation well into the doubledigits we bclieve that they will soon pass. Egypt's property market has a bright futurc. we hopc you find our research informarive and stimulating. I look forward to discussingwith you the investment opportunities highlightec in our report. Discoverthe full report GCC INVESTMENTS IN EGYPT GicC investors have poured billions ol'cdollars into Fgyptian infrastructure, real estale, anclindustry in the last couple of'years, Belw are some ofthe higrgest investments, whichtotal u5$ 115bn. Umian-Eigyptinvestmentfumd Gulf Capital250million huDlhaliDerelopment raitHolding Knwiit Fund railway projectS5miTlion siwari VenturesxEkuity HiPIFinvestmen TAE-Fyypt-Jordin Intlustrial sawla (GroupT1SS1.33b Q industrlal projectsSs10bn partnership agrecinentsUSS66h estimated share of29% oftotal FDI to Egypt, Saudli Arabla ranks first during 111 2023, with totalImvestment ofLss 2.1bn. cxtensive: clining and entertainment options, andCCC natiomals in the realpsm for premium units in highcncl dUSS.3.500Sm1chetocalvalueofstrhomeurthersinreasedurinn2y Dewelopers pas on saving GROWTH ENGINE: EGYPT'SRESIDENTIAL MARKET To recluce risk fur clevekopers due to inereasingever, a shelland cor unitmav not hx as attractin? The residential sector dominates Egypt's property market. In 2022, ol'the US$ 20hnin real estate investments in Cairo, Uss I6bn was in the rcsidential seetor. Developers are also taking a cautious apprnach.wod to 7 8 ycars on averagc, from 11 ycarsprviusy Residential outlok: Sleower rowth,inereasingtlemand for resale,completed properlies tw Uss 4.sbn mwonorail prxjects linking the Newaddition to subxiclised kan rales for house lbuvers. Rising demand The residential sales market in Farpt is expectedL cxpxrinnx slwwr rales ol'growth, underpinnerlor resale icash basec) and compleled proprtiesne of sales in thismarketscgment curingQ x2 The uerp price of rusickential prupxertics inpotential to proride better returns for savers. Summer home returns boost second homemarke This tombinatirn of demographice and inwstmentineentives hsve eneouraged a lury oflarge newncluicle the"New Administrative Capital,"NewZawed City"and "Nuw Cairo" istained strong demand in the shorapital apprxxciation, attractive: rxental yiclds inforeign eurreneies, the region's pleasaint elimate. Reeent legislative anerlnents ulloxing for cignersdemand firom international buers anc Egyptianple,apertrnentprpsm. Villa prices have inereased by S5% to USs 60usIn One ofthe mwst notable ncw lunches in the thirdin Mest Cairo by Saudi cleveloper Kaizen Lrbanhomxs by 2097 Market chullenges navtalmosthy 2.1's o t.Ss 625 psm, over the same period. Duspite strong growth. Egypt's residentinlarrunuyund eurreneydevaluationsThatis 18hquarterofthis year. Unsurprisingly arouncl tos of eurrent rrsidential Greater Cairo is the biggest real estate market farresidential buyer5, clue in part to a populacion that isgrowing faster than thecountry's averagegrowth rate. Duspite utough econumit batkteop ther is stilwhiehaceountfiors