Egypt Property Investment Receives Substantial Contribution from Middle East Developers
Property developers Damac & Emmar are buying big, and leading the way in Egypt property investment by transforming the country’s growth in quality real estate developments.
Egypt’s property investment market has been performing extremely well and is being urged on by news of the high investment figures pouring in from property developers. Looking forward, the country is set to become one of the best emerging markets for property investors, who will benefit from substantial capital appreciation and rental returns.
Damac, one of the Middle East’s largest luxury property developers, entered the Egyptian market in 2006 with a $16 billion plan to re-develop 320 million square meters of land, near Hurghada. The resort style development has encouraged huge investment into Egypt property investment. Other large developers are following suit and Dubai based Emarr, who already own 6 major development sites, have ambitious plans to control nearly half of the development.
‘There is no doubt that Egypt is a key country that is set to play a leading role in DAMAC’s investment strategies in the region. Backed by solid economic growth and a wealth of human capital, the potential prospects are immense. DAMAC’s commitment to Egypt will serve to attract further investment, generate massive employment, and contribute to the development of the real estate sector which is rapidly entering a new era.’ said Mr Hussain Sajwani, Chairman of DAMAC Holdings.
Local property agent, Mustapha Mezouri, believes that funds from the Middle East and UK tourism, is strengthening the price of property in Egypt. ‘Egypt will undoubtedly be an exciting area for investors and second home buyers due to the billions of foreign direct investment being invested from the Middle East. Prices will most certainly increase.’ Mustapha also believes that the newer Hurghada market is likely to offer the most capital growth. ‘Most people who think of Egypt automatically think of Sharm el-Sheikh, but we would suggest Hurghada is an affordable alternative. Prices in Sharm have increased substantially and Hurghada is also a highly established tourist resort with an international airport close by accepting incoming charter flights. Prices for quality property here are lower than Sharm. We believe property prices in this emerging market will rise 100% over the next five years, with great opportunities to sell on to end users’
The government's continuous reforms to infrastructure should bring about a major shift in Egypt property investment. Another benefit which boosts rental potential is an increase in direct, short flight times from the UK, no capital gains tax, or inheritance tax, a relatively low cost of living and property in Egypt requires minimal maintenance costs.
For more information on Egypt property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670
Or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com
Egypt’s property investment market has been performing extremely well and is being urged on by news of the high investment figures pouring in from property developers. Looking forward, the country is set to become one of the best emerging markets for property investors, who will benefit from substantial capital appreciation and rental returns.
Damac, one of the Middle East’s largest luxury property developers, entered the Egyptian market in 2006 with a $16 billion plan to re-develop 320 million square meters of land, near Hurghada. The resort style development has encouraged huge investment into Egypt property investment. Other large developers are following suit and Dubai based Emarr, who already own 6 major development sites, have ambitious plans to control nearly half of the development.
‘There is no doubt that Egypt is a key country that is set to play a leading role in DAMAC’s investment strategies in the region. Backed by solid economic growth and a wealth of human capital, the potential prospects are immense. DAMAC’s commitment to Egypt will serve to attract further investment, generate massive employment, and contribute to the development of the real estate sector which is rapidly entering a new era.’ said Mr Hussain Sajwani, Chairman of DAMAC Holdings.
Local property agent, Mustapha Mezouri, believes that funds from the Middle East and UK tourism, is strengthening the price of property in Egypt. ‘Egypt will undoubtedly be an exciting area for investors and second home buyers due to the billions of foreign direct investment being invested from the Middle East. Prices will most certainly increase.’ Mustapha also believes that the newer Hurghada market is likely to offer the most capital growth. ‘Most people who think of Egypt automatically think of Sharm el-Sheikh, but we would suggest Hurghada is an affordable alternative. Prices in Sharm have increased substantially and Hurghada is also a highly established tourist resort with an international airport close by accepting incoming charter flights. Prices for quality property here are lower than Sharm. We believe property prices in this emerging market will rise 100% over the next five years, with great opportunities to sell on to end users’
The government's continuous reforms to infrastructure should bring about a major shift in Egypt property investment. Another benefit which boosts rental potential is an increase in direct, short flight times from the UK, no capital gains tax, or inheritance tax, a relatively low cost of living and property in Egypt requires minimal maintenance costs.
For more information on Egypt property investment and to find out about Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670
Or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com
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