Egypt’s path to macroeconomic stability, driven by foreign direct investment (FDI) and a recent $820 million loan from the International Monetary Fund (IMF), is sparking growth in Cairo’s real estate market, according to JLL’s Cairo Market Dynamics Overview for Q3 2024, Invest-Gate reports.

The report highlights that as Egypt’s economic conditions improve, new entertainment concepts are emerging in the retail sector, aiming to increase footfall and spending. Meanwhile, a subsidy program and ongoing infrastructure developments, including the new monorail, are strengthening the hospitality sector’s outlook.

Ayman Sami, JLL Egypt’s Country Head, remarked, “The early signs of macroeconomic stability in Egypt are beginning to underpin demand and performance in Cairo’s real estate market, with investors and occupiers looking to leverage the more positive economic backdrop. Improvements in hard infrastructure and new investment programs are set to enhance the long-term prospects of the office and hospitality sectors.”

With the government’s focus on strategic initiatives, JLL anticipates continued momentum in Cairo’s real estate landscape through the last quarter of 2024, providing both investors and businesses with a favorable outlook for growth.