The property market is a difficult part of the economy to navigate, with its twists and turns as policies change, currencies fluctuate, mindsets evolve, and new buyers are heading to Egypt for their next big investment. Adding clarity to the scene, Menassat Developments’ Chairman Eng. Ahmed Amin Massoud and CEO Eng. Tamer Fouad joins Invest-Gate to talk about their views on Egypt’s booming real estate market and the company’s ambitious projects in the New Administrative Capital and beyond.

Do you think that the real estate market is in its best state currently after stabilizing the interest rate on lands? How does this explain the increase in demand despite the surge in prices of real estate products?

Currently, the Egyptian real estate market is not in its best condition, compared to the period before the corona pandemic and the Russia-Ukraine war. However, it is, of course, much better these days than it has been in the past two years, and we expect more prosperity and restoration of luster again since Egyptians view real estate as a haven to maintain the purchasing value of their local currency.

Egyptians won’t feel secure except if his/her money is in real estate, and the investment culture in the stock market is still very weak. This is in contrast to bank certificates which failed to preserve the value of depositors’ money despite the interest rate rising to 25%, due to high levels of inflation and exchange rate fluctuations. This makes it evident that the profitable returns on properties are incomparable to any other means of preserving savings.

Could you elaborate on Menassat’s real estate development projects and their advantages?

Menassat Developments has its largest project, Podia Tower, which will boost commercial and investment activities in the New Administrative Capital. It is considered the first smart tower that provides distinguished commercial, administrative, and medical services.

Located in the strongest commercial area in the heart of Downtown, Podia Tower is on the most important main axis in the New Administrative Capital, which is the Mohammed bin Zayed Northern Axis.

The project is characterized by a charming view of the Green River and Misr Mosque, in addition to a proximity to Souq El-Dahab (Gold Market). Souq El-Dahab (Gold Market) is Egypt’s first international gold market and a copy of the Gold Market in Dubai, which is considered one of the most famous gold markets in the world. In addition, the Cairo Monorail station is just steps away from the Podia Tower site.

Cityscape will feature exclusive offers for the project, the most important of which is that it will have zero down payment. In addition, for the first time, furnished administrative units will be offered, and other exclusive offers will be announced at the exhibition.

Our third project is AXLE in Fifth Settlement (New Cairo) which is a huge investment mall with administrative, medical, and retail activities that has all the traits of success for any investment project, regardless of its type. It has many attractions that make it a shopping destination for any client.

The Business Complex enjoys an ideal and strategic geographical location on Gamal Abd El Nasser Axis. It was built on a large area that includes green spaces and amazing landscapes, and it can also provide a variety of services and facilities that meet the needs of the Business Complex’s customers and visitors.

Could you explain Menassat’s timetable for the delivery of its projects?

In the company’s timetables, specific deadlines have been set and we have consultants who are responsible for timely execution they have achieved excellent progress with deliveries in accordance with the timetables set at the beginning of 2025.

The real estate market has been directed for two years toward commercial and administrative activities. Do you think that these products that are directed to a specific segment of society can provide them with financial returns? Is the market approaching a glut in this sector?

Indeed, the commercial and administrative sectors are the largest with the highest ROI, and we specialize in both. We brought in the largest consultants in the Middle East to manage projects to ensure the highest ROI for our clients.

The glut in the sector is unexpected and far from the reality of the market because demand for this sector has reached 2 million administrative and commercial units every year, and only about 800,000 were implemented this year.