Cairo’s occupancy rate rises to 64% YoY from January to November, compared to 48% in the same period last year, Invest-Gate reports.

JLL’s Cairo 2022 Year in Review report shows that the average daily rates (ADR) jumped by 66% to $152, strengthening revenue per available room (RevPar) up by almost 122%, reaching $97.

In 2022, around 200 keys were added, taking the capital’s total hotel stock to approximately 28,000 keys. Cairo is also on track to see the completion of 900 hotel keys in 2023.

Although delivery of residential units is seeing a healthy upsurge with close to 35,000 units readying for completion in 2023, compared to nearly 18,000 units in 2022.

Rents grew by 9% YoY in the 6th of October and by around 3% YoY in New Cairo.

Moreover, resale prices increased by 16% and 17% in the 6th of October and New Cairo, respectively, during Q4 2022.

Over 400,000 sqm of floor space is scheduled to be completed in 2023, with a notable proportion of this comprising new buildings planned to be delivered in the New Administrative Capital’s central business district.

As for 2022, the delivery of around 193,000 sqm of floor space brought Cairo’s total office stock to around 1.9 mn sqm.