Antoine El Khoury: Egypt is changing very quickly and has been going through an in-depth transformation, and has become one of the most growing, most promising, most regarded business platforms in the world.
For the property sector, uncertainty began to color new market sentiment amid the rising COVID-19 unknowns, thereby making some clients puzzle over home buying and turn to rental options instead. This prompted Invest-Gate to probe if potential customers are reconsidering purchasing and are better off sticking with renting residential units as the Coronavirus-induced slump takes hold, asking real estate professionals to get to the bottom of the matter and map out the prevailing market conditions.
Over the years, building violations have posed a tremendous dilemma in Egypt. Correspondingly, the Egyptian government recently imposed a six-month ban on building permits, halting the construction of private housing in various urban cities. Invest-Gate digs deep into the matter and reaches out to several market experts to scrutinize this decision-making, which comes into effect after Egypt called for reconciliation over construction infractions recently, aiming to outline the law’s impact on private property developers and the overall real estate landscape.
Invest-Gate puts the Egyptian real estate sector under the spotlight, examining the current supply and demand conditions, while laying hands on the trending tactics used by property developers to excel and ace the market circumstances.
The industry is facing a new challenge, and it is not due to oversupply since demand is already soaring, but it is rather driven by the prevailing issue of affordability, which recently started to show some signs of recovery.
Invest-Gate sits with Head of Savills Egypt Catesby Langer-Paget for a quick review on the market performance and forecast of the near future.
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