Despite the ongoing effects of the COVID-19 crisis, Egypt’s property developers enjoyed a bumper Q3 last year, with sales turning positive on a YoY basis, reflecting optimism for a quicker and more robust recovery over 2021, according to Invest-Gate’s latest market overview report, titled “Scope-Out Egypt’s Real Estate Scene in 2020.”

The real estate industry used to be straightforward, with a traditional business model where you could secure a piece of land, hire a reputable architect to make plans, then a contractor who would open up a site office, with the sales process maintaining itself.

While the government announces plans to develop 20 new fourth generation cities, local homebuyers start to look for residences at these promising spots