Thursday, 13th October 2016As Egypt struggles to bridge a budget deficit and a shortage in foreign reserves, an impending IMF loan is bringing with it a demand for several reforms, including the introduction of the value-added tax. How will the economy cope with the introduction of the new tax, and in particular the real estate sector?
Sunday, 9th October 2016Egypt’s present economic reality, its rapidly growing population, and finite resource pool all make it prudent for the nation to conserve resources and energy. With the real estate sector continuously on the rise to fulfil the housing demand needs, it is only natural that developers begin to take the necessary steps to build property in a sustainable fashion.
Tourism Residential Overview
Monday, 5th September 2016The ‘going green’ bandwagon has been slowly making the rounds with new ideas of impactful ways to save our planet emerging every day. Environmental responsibility and long-term sustainable solutions have become a necessity, with the world trying to combat global warming with its consequences, and ensure resource availability for all. Now the worldwide trend towards going green has shifted to real estate, where a green building signifies a property that is built with an environmentally friendly process, energy and resource efficient. While the environmental aspects are key champions of green buildings, the economic benefits of a sustainable green shift are weighing heavily in its favor.
Wednesday, 20th July 2016Egypt’s real estate market, described by many as rock solid, may not necessarily need a boost, yet the Egyptian pound’s (EGP) recent devaluation did exactly that. Since the 2011 revolution, the economic decline has caused foreign reserves to dwindle to an all-time low, which has disturbed the economic, political, and social climate. Adding insult to injury, tourism suffered a major hit last year, dramatically affecting one of the country’s key sources of foreign currency. As a major importer of commodities, the dollar shortage fuelled inflation, led imported goods to pile up at the ports, and disrupted businesses that rely on imported raw materials for production. These developments have allowed the black market to flourish, with the dollar reportedly crossing EGP 11.
Thursday, 30th June 2016The real estate landscape in Egypt is continuously evolving. Development projects are constantly underway to fulfill the demands of the country’s growing population. It can thus be quite difficult to purchase or sell property, especially if one is a novice in the real estate market. Finding a capable real estate agent can be a lifesaver.