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THE CAIRO REAL-ESTATE MARKET
Dec 16 2019

THE CAIRO REAL-ESTATE MARKET

All sectors of the market performed positively in Q3 2019. The residential sector is stabilising and absorbing the shock of Q1 and Q2’s slump in performance, with more developers looking at West Cairo as a promising destination for new projects. Prime office rents continued to rise as more businesses seek to enter the market in Egypt and vacancy rates have declined significantly due to the lack of additional office supply over the past 12 months. Further progress on the New Administrative Capital (NAC) is driving the continued shift to the east of the city, which is applying upwards pressure on rental rates in locations within New Cairo.Retail rents have also continued to increase as new market entrants are attracting more footfall. The retail market has also benefitted from the opening of the Almaza City Centre in Q3 2019. The Cairo hotel market continues to perform strongly, recording a 14% growth in Revenue per Available Room (RevPAR) compared to 2018, with occupancy rates increasing to 73% in the YT August. With limited new supply and increased visitor arrivals, the Cairo hotel market is expected to perform strongly over the next 12 months For more info download pdf

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