Colliers International’s latest MENA Hotels Quarterly Review (Q3 2020) shows that Egyptian hotels have been the region’s worst-hit so far by COVID-19, with occupancy going down at least 50% during this year, despite the resumption of international flights and reopening of prime tourism spots.

Organizers at Cityscape, the most influential property exhibition in Egypt, are confident that this year’s event will show the local real estate sector’s appetite to get "back to business," with several key drivers such as central bank efforts, changing buyer needs, and ongoing investment confidence minimizing the impact of COVID-19 on the market.

The Egyptian Junior Business Association (EJB) has uncovered that Egypt has seen a substantial number of tourist arrivals in the recent period, despite the ongoing COVID-19 crisis, with almost 300,000 visitors checking in the country since July.

In a move that is the first of its kind in Egypt, Invest-Gate has organized the Real Estate Digital (RED) Masterclass, in light of its keenness to help realty professionals and agents embrace timely change and have a strategic digital plan in place to bridge their online and offline business.

Food producer and supplier Gourmet Egypt and technology company Softec Technologies have partnered to allow Gourmet’s operations to automate, optimize, and control home delivery as well as the inventory-routing network with artificial intelligence (AI).

New data released by Informa Markets, organizer of Cityscape’s Real Estate Summit, has revealed that nearly 73% expect Dubai to see the most growth in the hospitality sector over the next two years, as the UAE opens its doors to tourism, with Abu Dhabi, Turkey, Saudi Arabia, and Egypt in tow.

IKEA, the Swedish pioneer and top-rated brand in furniture and one of Al-Futtaim Group’s companies, has successfully, electronically, and unprecedentedly launched its new edition of the 2021 catalog in Egypt. In fact, the launch coincides with the 70th anniversary of IKEA’s first catalog release, and was curated under the slogan of "Let's make your home special". 

Fitch Solutions said the introduction of 20 new cities across Egypt, along with the upgrading of 23 existing areas, is stirring up demand for Egyptian real estate, in the face of Coronavirus headwinds.

Abu Dhabi Tourism Investment Company (ADTIC), a subsidiary of the Abu Dhabi Fund for Development (ADFD), has uncovered a major refurbishment project for its hotels in Egypt, aiming for completion in H2 2021.

Egypt's Minister of Supply and Internal Trade Ali Moselhy has officially inaugurated the newest 50,000-square-meter branch of retail chain HyperOne in New Sphinx, west Cairo, coming with investments valued at EGP 650 mn.