Cairo remains one of the oldest cities in history with diversified civilizations and a mix of cultures. As we have learned in school its prime location on the old world map has led to it being cosmopolitan where Europeans, Asians, Middle Easterners, and Africans meet, trade, and mate. Even throughout modern history, its location has helped shape world politics and economies. Having said that Cairo is one historical hub that is a must visit and a great investment option.
With Cairo’s rich prehistoric and historic civilizations, infrastructure and real estate have developed to enrich its heritage and complement its modern setting. Both sectors have eased accessibility to its various touristic sights, transforming their seekers from just visitors to homeowners, who can live or invest in its properties.
Following the government’s vision to export real estate and increase the foreign interest in both residency and investment, Cairo’s various tourist areas contribute to the rising demand on the surrounding residential developments in Cairo.
The existence of such tourism areas should affect of course the demand on the surrounding developments, which should be marketed based on this attractive factor, according to Karim Ghoneim, CEO of BYC consultancy brokerage firm.
New Cairo has become one of the biggest business hubs in the region, encompassing most of the big companies’ headquarters. Moreover, it is in the very center of the city and going to Giza or downtown is not a hassle through the Ring Road and El Moshir Tantawy Axis – a shortcut to downtown Cairo. Thus, owning a property there -whether a residential or commercial- is a good deal for many people as it has a variety of workplaces, while providing an easy access to many tourist places.
Ghoneim says that demand on New Cairo’s properties is the highest as most of multinational offices and workplaces exist there.
New Cairo has multiple options of big projects such as Taj City, which is built on 900 acres and expected to be fully delivered by 2020, offering residential units such as studios or apartments, as well as a commercial area, a mall, and a hotel. It is close to the Ring Road and Suez Road, which cuts down your way to the touristic venues. Taj City is also a 30-minute drive from the downtown and a one-hour drive from the Great Pyramids of Giza.
Another alternative destination, which is witnessing a wide development whether in business or residential fields is Cairo Festival City (CFC), where you may own your villa in its 700-acre land near to IKEA and CFC mall, encompassing a large number of retail shops with a wide variety of brands. You may also own an office in the city to operate your business from there.
Furthermore, you have also the option to own a smart unit in Mountain View iCity, which is located at the end of El Teseen Road in the 5th Settlement, New Cairo in close proximity to the American University in Cairo (AUC) and the New Administrative Capital. Another option can be buying a property in Mivida, which is built by Emaar Misr, and you may also own an office in its business park so you can live and work at the same place.
Moving onto Giza, which has the most important historical sites in all of Egypt, one can enjoy the Great Pyramids of Giza and the Grand Egyptian Museum (GEM). Described as the largest archaeological museum, the project is under construction and expected to be completed by the end of 2020, according to GEM’s Facebook official page.
A 30-minute ride through the Giza-Al Wahat Road can drop you off to the 6th of October City, which is witnessing mega residential and commercial projects.
The city encompasses October Plaza, which is carried out by Six of October for Development and Investment (SODIC), providing meeting areas in addition to safe walkways and swimming pools.
Palm Hills Developments is also selling more than one project, with a total area of 3,275 acres, in the 6th of October area, with units overlooking views of Golf fields and wide landscapes.
The 6th of October city has several services and entertainment centers such as Arkan in Sheikh Zayed, Dandy Mall, and Mall of Egypt – the biggest mall in the Middle East.
After all these developments, Sphinx International Airport comes as a turning point and a facelift for west of Cairo, luring both investors, and foreign or local homebuyers to reconsider the surrounding area in terms of investments.
Built on 26,000 meters and located 45 kilometers on the Cairo-Alexandria Desert Road, the airport will host 300 passengers per hour. The airport aims to be a hub for charter flights, which are not allowed to land in Cairo, with expectations to attract a lot of tourists especially those, who seek to visit the Great Pyramids of Giza and the GEM, and thus, increase the foreigners’ flow on the whole area.
Ghoneim reiterates that the airport will affect demand on developments in the surrounding area, especially that it will host charter flights, and thus, increase the foreigners’ flow to the whole area.
Head Downtown and Old Cairo
Away from Giza, visitors can have a great experience at the downtown’s mesmerizing attractions facilities such as the old Museum of Cairo and Abdeen Palace, while enjoying a walking tour around the old-style downtown streets and buildings, and why not attend a cultural event or a concert at the Cairo Opera House?
In addition, the Nile cruises are many, various, and available anytime, so you can choose whatever convenient and affordable to cruise the Nile while having lunch or dinner.
A very short drive via Salah Salem Street from downtown Cairo to the Saladin Citadel of Cairo to enjoy the medieval Islamic fortification and then you can have a walk through nearby mosques such as Mohamed Ali Mosque and museums like such as Al-Gawhara Palace Museum.
When you are done, do not forget to have a tour in Khan El-Khalili bazaar district to see some main religious historical attractions and main gates of the Old City of Cairo such as Bab Zuweila. It comprises shops, from which you can buy the best souvenirs and antiques. You can also have an oriental dinner or tradition drink later at one of its oldest and most famous coffee houses or restaurants.
Emaar Misr is one of the big names that privileged from such unique setting and built its Uptown Cairo compound in close proximity to all those places combined. Uptown Cairo overlooks the metropolis from the country’s highest point, Mokattam.
Set 200 meters above the sea level, the gated residential compound encompasses various services and facilities such as a golf clubhouse and an international school. The huge development is built on an area of 1,000 acres, equal to Zamalek’s land size.
Uptown Cairo is linked between Central Cairo and the 5th Settlement and the other side from Egypt, due to its closeness to Cairo’s main roads and most of the city’s facilities.
On Your Way Back
Done with your business and tours and in a hurry to have some lavish shopping experience before leaving? It is not a must to go back to downtown unlike most of the touristic cities.
In Citystars Shopping Mall, located in Heliopolis, you can do all kinds of shopping you want near to the Cairo. If you missed getting some souvenirs, you can buy it from Khan El-Khalili section in the mall.
BYC’s CEO sees that all the above-mentioned projects are good investment opportunities for foreigners. However, he argues that ownership rules and procedures should be facilitated for foreign investors and buyers so that they can come and invest.
For an ultimate Cairo experience, check out our nightlife venues in one of the busiest cities worldwide, Cairo … Up next!