Egypt's property market to recover in 2015-2016

Despite the political and economic turmoil, Egypt's property market is expected to remain "subdued" but will gradually begin to recover in 2015-2016. Jones Lang LaSalle said in a report that the first quarter of 2015 saw positive economic developments in the market, including an increase in foreign exchange reserves for the first time since August 2014, an improved stock market performance and a narrowing budget deficit. In the fourth quarter of 2014, Jones Lang LaSalle said that signs of improvement in Egypt's economy had a positive impact on the property market, allowing it to forecast improvements in the sector in 2015.

Also, the head of Egypt's largest investment company Thimar Real Estate, Magid Abdel Fadil, announces the launch of a new program to support highways. He explains that roads and bridges cannot be separated from real estate development – it makes no sense to build residential and tourist cities without good roads. He also emphasizes the need for entrepreneurs to support the improvement of roads, which will open up new development prospects for the country.

The Egyptian property market is on track for a renaissance, with the market expected to grow by more than 30% over the next 10 years compared to previous years.