“As the market has developed, so has the sophistication of the buyers who look to extend either their stay or rental returns from their investment,” commented Mansoor Ahmed, Director of Development Solutions, Healthcare, Education and PPP at Colliers International MENA. He added: “To attract these buyers, developers need to look beyond the limited retail and F&B offerings, creating pull factors. These include boarding schools, hospitals and clinics, educational facilities, retirement communities, fitness & skill retreats and rehabilitation centres.”
Developers will start to look at these factors, especially as the marker looks to stabilise this year.
After a period of volatility in the Egyptian market, the real estate market is attracting investment inflows as it benefits from the positive side of the floatation.
In its 2017 first quarter Cairo Real Estate Market Overview, JLL said the stabilisation of the pound was a positive sign for a real estate industry that has attracted foreign investment inflows on the back of economic optimism.
Although, while prices have increased slightly for end-users, the JLL report said that local demand for residential units continues to be strong.