Daily News Egypt

EGP 47.5bn total investments in property market in FY 14/15: OBG - Daily News Egypt

Advertising Area



Advertising Area




EGP 47.5bn total investments in property market in FY 14/15: OBG

The government must lead the efforts to incentivise social housing because private sector developers seek the higher end of the market, says the report


Public and private investments in the property market totalled EGP 47.5bn ($5.3bn) in the fiscal year (FY) 2014/2015, contributing to around 5% to GDP, according to Oxford Business Group (OBG).

OBG issued a report on the real estate market in Egypt at the end of May, saying that Egypt’s residential real estate market has recorded impressive results thanks to persistently high demand.

The report highlighted that Egyptian expatriates look to capitalise on the weaker Egyptian pound, noting that investment properties are particularly popular for resale or rental.

The report pointed out that the current market environment is drawing a range of domestic and international investors such as Palm Hills that has seen success with its Palm Valley West Cairo project and expects to deliver a total of 1,800 housing units in the current year.

“Many private sector developers; however, will likely continue to target the higher end of the market, underscoring the importance of government-led efforts to incentivise social housing,” the report read.

 

Advertising Area

Advertising Area



https://www.dailynewsegypt.com/2016/06/05/egp-47-5bn-total-investments-in-property-market-in-fy-1415-obg/
Breaking News

No current breaking news

Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View