2024 has proven pivotal for Egypt’s real estate market, reflecting resilience amidst economic headwinds. The sector navigated rising inflation, currency depreciation, and skyrocketing construction costs. However, it also witnessed strategic adaptations, innovative projects, and record-breaking sales that underscore its enduring appeal. Economic Impact The Egyptian pound's devaluation and the Central Bank’s decision to float the currency in March 2024 drove substantial property price hikes. This and a 6% interest rate increase significantly affected purchasing power but attracted foreign investment. Property prices surged by over 100% in key areas, including New Cairo, the New Administrative Capital, and the North Coast. Rental prices also soared as demand increased, with buyers turning to real estate as a financial hedge against market instability. Despite these challenges, Egypt’s strategic location and government-backed stability measures maintained its status as a prime destination for real estate investment. Ras El-Hekma - A Game-Changer The landmark collaboration between Egypt’s New Urban Communities Authority (NUCA) and UAE’s ADQ Holding transforms Ras El-Hekma into a world-class Mediterranean destination. With a total investment of $150 billion, including a $24 billion commitment from ADQ, the project is set to create over 100,000 jobs in construction and contracting. This initiative is a significant economic boost, reducing unemployment and contributing to the country’s GDP. The project represents Egypt's ambition to establish itself as a luxury and coastal real estate hub, attracting local and international attention. Government Support for Developers The Egyptian government introduced measures to stabilize the sector, recognizing the economic pressures facing developers. These included direct land allocation mechanisms, reduced reservation fees for large-scale projects, and extended project timelines by 20 percent. Developers were allowed to postpone installment payments, and projects were deemed complete upon 80 percent of work being finalized, including infrastructure. Additional measures, such as competitive land prices and flexible payment terms, further demonstrated the government’s commitment to fostering stability in the real estate market despite the challenging economic environment. Resale Market Dynamics The resale market experienced mixed fortunes in 2024. The first half of the year saw heightened activity as rising primary market prices and inflation led many buyers to view real estate as a safe investment. However, the year's second half saw a slowdown as currency depreciation reduced purchasing power, and buyers hesitated while awaiting price stabilization. Despite these challenges, the resale market’s activity underscored the ongoing demand for real estate, even in uncertain economic times. Extended Installment Plans: A Strategic Shift Real estate developers responded to rising property prices by offering longer installment plans to make properties more accessible. These extended payment options reduced the burden on buyers, attracting a broader customer base. Developers also offered flexible solutions, including down payments as low as 10 percent and repayment periods of up to eight years or more. This shift reflected a strategic adaptation to customer needs and market conditions, enabling developers to maintain liquidity while aligning with clients’ financial capabilities. Record-Breaking Sales The real estate sector witnessed exceptional sales in 2024, with the top ten developers achieving total sales of EGP 1 trillion. This represents a remarkable 203 percent growth compared to the previous year, driven by strong demand and significant expansion in the North Coast. Over 53 percent of these sales came from North Coast projects, outperforming other regions like the New Administrative Capital. The record-breaking figures highlight the sector’s resilience and the enduring appeal of Egyptian real estate as an investment opportunity. The defining trends of 2024 demonstrate the adaptability and resilience of Egypt’s real estate market. While economic challenges posed significant obstacles, strategic government interventions, landmark projects, and innovative developer strategies ensured the sector’s continued growth. As Egypt positions itself as a luxury, coastal, and investment-focused real estate hub, the future looks promising for investors, developers, and homebuyers alike. This transformative year has set a strong foundation for the sector, paving the way for continued growth and innovation in the years to come.
Seen Social District
New Cairo | Rejan Developments
Saada is located in 1st Settlement, New Cairo. The developer of Saada is Horizon Egypt Developments.
The completion date for Saada is and the finishing for the properties are Fully Finished.
The starting price of properties in Saada is Ask for price .The downpayment for a property in Saada is starting at Ask for price or Ask for price. The number of installments for a property in Saada is 32 installments and has a payment plan of 8 years. The monthly payment of a property in Saada Ask for price
Hyde Park New Cairo is located in 5th Settlement, New Cairo. The developer of Hyde Park New Cairo is Hyde Park Developments.
The completion date for Hyde Park New Cairo is and the finishing for the properties are Fully Finished.
The starting price of properties in Hyde Park New Cairo is Ask for price with a price per sqm of Ask for price. The downpayment for a property in Hyde Park New Cairo is starting at Ask for price or Ask for price. The number of installments for a property in Hyde Park New Cairo is 32 installments and has a payment plan of 8 years. The monthly payment of a property in Hyde Park New Cairo Ask for price
Seen Social District is located in 5th Settlement, New Cairo. The developer of Seen Social District is Rejan Developments.
The completion date for Seen Social District is and the finishing for the properties are Fully Finished.
Cairo Business Plaza New Capital is located in Financial District, New Capital. The developer of Cairo Business Plaza New Capital is Better Home.
The completion date for Cairo Business Plaza New Capital is and the finishing for the properties are Fully Finished.
The starting price of properties in Cairo Business Plaza New Capital is Ask for price with a price per sqm of Ask for price. The downpayment for a property in Cairo Business Plaza New Capital is starting at Ask for price or Ask for price. The number of installments for a property in Cairo Business Plaza New Capital is 24 installments and has a payment plan of 6 years. The monthly payment of a property in Cairo Business Plaza New Capital Ask for price
Le Gray Beach Hotel and Residences is located in Ras El Hekma, North Coast. The developer of Le Gray Beach Hotel and Residences is People & Places.
The completion date for Le Gray Beach Hotel and Residences is and the finishing for the properties are Fully Finished.
Kynd is located in Ras El Hekma, North Coast. The developer of Kynd is Melee Development.
The completion date for Kynd is and the finishing for the properties are Fully Finished.
The starting price of properties in Kynd is Ask for price .The downpayment for a property in Kynd is starting at Ask for price or Ask for price. The number of installments for a property in Kynd is 24 installments and has a payment plan of 6 years. The monthly payment of a property in Kynd Ask for price