Monday, 14th August 2017
Construction Costs to Further Escalate On Fuel Price Hikes
Egypt’s construction costs are to see a further increase after the government hiked fuel prices by up to 50% in order to help meet the terms of a USD 12 bn IMF loan deal, real estate developers and contractors anticipate. Invest-Gate explores the effects of the government’s recent decision to increase fuel prices on Egypt’s real estate market
Sunday, 2nd July 2017
Real Estate Funds To Uplift Egypt’s Property Market
Real estate experts believe that the launch of real estate investment funds in Egypt will encourage more individuals and developers to invest in Egypt’s property market, especially amid rising prices of residential units and the declining funding capacity of the banks. Invest-Gate explores the existing real estate investment funds in Egypt and their impact on the market.
Monday, 13th February 2017
Compensation Law to Redeem Contractors’ FX Losses
As the prices of construction materials spiked by 40% amid the challenging economic conditions that defined the past months following the float of the EGP, costs of building rapidly increased, leading to the need for legislation compensating contractors as FX losses magnified. Invest-Gate looks into the newly-drafted Compensation Law.
Monday, 23rd January 2017
New Bankruptcy Law Paves Way for Business
Egypt's first drafted Bankruptcy Law comes second after the recent Investment Law No.8, aimed at reforming its economy and paving way for further business and investments across its markets. Invest-Gate looks into the drafted law that is currently waved to parliament for vote
Monday, 9th January 2017
Real Estate Experts: IMF Loan Evinces Confidence in Egyptian Economy
Inflation has taken its toll on Egypt’s economy in the past years, with the market having been particularly hard-hit between the Egypt Economic Development Conference in March 2015 until July 2016. Moreover, with foreign debt skyrocketing, the state, in league with the central bank, had no option but to turn to the International Monetary Fund (IMF) to loan them out of this crisis.
Thursday, 5th January 2017
Amid Economic Difficulty, Real Estate Chamber Lobbies to Bail Out Sector
Struck by the triple blow of the recent pound flotation, the value-added tax, and increasing customs tariffs, the real estate sector, like many others, has recently been teetering on a thin precipice between its previously buoyant performance and a potential bubble. In efforts to build a collective front, the recently-established Real Estate Development Chamber has been lobbying the government for facilitations and incentives, in the face of stringent economic reform.
Friday, 30th December 2016
Dubai Real Estate Surges, Abu Dhabi Takes a Step Back
The real estate markets of the two main emirates of the UAE exhibited differing trends over the course of November 2016. While the pleasant weather and cool breeze apparently had a galvanizing effect on the Dubai realty market, things seemed to be cooling down in neighbouring Abu Dhabi.
Sunday, 20th November 2016
Egypt’s Contractors Push Back on Value-Added Tax
While rising costs due to currency depreciation and inflation are seen as largely positive for real estate demand in Egypt in general, and neutral to positive for developers in particular, rising costs due to the recent and long-delayed imposition of the value added tax (VAT) are being deeply felt by the country's contractors.
Thursday, 10th November 2016
Egypt’s Real Estate Sector Poised to Benefit from Depreciating EGP
For domestic investors facing the economic vagaries of the past few years and the hopeful but volatile immediate term, Egypt’s real estate sector remains a popular hedge against inflation and a sliding currency. The Central Bank of Egypt’s decision earlier this month to float the overvalued Egyptian pound should see property prices more or less track the pace of inflation.
Tuesday, 8th November 2016
The Mortgage Finance Fund and Bridging Egypt’s Housing Gap
Established in 2003, Egypt's Mortgage Finance Fund, headed by Mai Abdel Hamid, has long sought to provide funding options for low- and middle-income Egyptians, in a market that is saturated by upscale property developments and largely lacking in financing options. But are the efforts exerted by the fund sufficient to meet an ever-growing housing gap?