Obour City is currently experiencing great demand on residential and commercial properties, according to real estate experts who projected an increase of property prices by over 25% compared to last year’s prices, reported Almal News.
The average price per square meter in Obour City has recorded EGP 2,500. The satellite city has a total area of approximately 16,000 acres, with the aim of accommodating 640,000 citizens by the time construction is completed.
Obour City recently fell under the management of the New Urban Communities Authority (NUCA), while some investment companies have commenced works in several real estate projects across the city due to its proximity to Cairo. The city moreover offers fulluy-serviced amenities that include commercial and administrative malls, as well as several banks to meet the needs of residents, according to Akhbarak.