Reasons to Invest in New Cairo Egypt Real Estate
Chinese developers have announced that they will fund the new Egypt Cairo, which has ignited further developments for the new city. New Cairo will be developed to reduce pollution, overcrowding, and living costs. The China Fortune Land Develop Company has announced an investment of $20 billion, while another Chinese company has announced that they’ll invest $15 billion.
This provides investors an opportunity to pitch in to this project and help build a city that will foster sustainable growth and national spirit. Other beneficial reasons include:
It’s a Big and Available Market
Egypt contains a large population, which provides investors with a large consumer base for housing units. There’s a favorable economic climate and growing middle class within Egypt, along with a low cost of labor. Together, these factors are enhancing Cairo’s ability to become a real estate hub. The city is also located on the edges of Africa and offers connections to countries in Asia, the Middle East, and Europe.
It’ll Help with Housing for High Population Growth
Egypt’s population is growing steadily at two percent, which means that there’s an increased need for housing. The population growth has been estimated to increase needs of 100,000 units per year in order to meet demand; by 2020, there could be a shortage of half a million housing units. The price per rental income is also increasing, and governments are in desperate need to tackle overcrowding and high prices.
Developing new cities are among the best opportunities for this that will both benefit the government and its people.
Increased Investments Globally
Investments in Egypt’s New Cairo is completely revamping the real estate market in Egypt. The development of new residential units always provides an effective and profitable opportunity for investment. The demand for residential houses was not largely impacted in 2014, during the Arab Spring and accompanying regime change. This political turmoil didn’t dampen the need for new commercial and residential opportunities. Mega projects like the Suez Canal expansion and the Cairo Airport City have also increased an environment for investment.
A Strong Economy
The real estate economy is booming in Egypt due to an increasing middle class that is searching for the development of luxurious high-income housing units. Large projects that could be in development include not just housing but also villas, malls, and commercial units.
The real estate business has also established itself, despite Egypt’s struggling economy after President Mubarak was forced out. At that time, the value of Egypt’s currency plunged and its number of tourists reduced. Now, the country’s economy is emerging strong despite the challenges it has faced.
Today, investors have a unique opportunity to secure their money by investing in Egypt and in the development of a new city, New Cairo. With a real estate economy that’s emerging strongly, an increased demand for affordable housing, and an opportunity to tackle issues with overcrowding, investments contain many beneficial aspects. High potentials and a strong economy have motivated Egypt investments for the housing and retail sectors.