Egypt Construction

Like many sectors in the country, construction has had more than its fair share of challenges in recent years. Yet in spite of the downside risks, the prospects for the building industry have not been brighter for decades. As Ayman Tolba, the chairman and CEO of Leena Real Estate, told OBG, “Egypt’s young and growing population can support strong growth in the construction of...

The contention that nothing is certain except for death and taxes has been given further credence as property taxes have finally become an established part of Egyptian life. A law to impose these levies was first introduced six years ago, but was never enforced in the face of strong opposition from property owners, and demands that the threshold and criteria be changed.

In light of recent political and macroeconomic instability, housing has once again risen to the top of the policy agenda in many countries of North Africa and the Levant. Although the dynamics of local real estate markets and regulatory environments vary widely between Morocco in the west and Jordan in the east, persistent housing deficits, an affordability gap and under-...

As an exercise in getting a large-scale infrastructure project – and a massive industrial development – off the ground, it is probably unparalleled. An appeal to the Egyptian people to fund the widening and deepening of the Suez Canal was met with such enthusiasm that it took just eight working days to raise LE64bn ($9.1bn) – around LE4bn ($568m) more than was being sought....

After a sharp decline in real estate activity in 2011, the market has crawled back and many companies should see full-year figures for 2014 return to pre-revolution levels. Players in the market predicated their expectations for the year on continued stability. They were not disappointed, and higher sales volumes and values have been reported throughout 2014 as Egyptians...

Mortgages on property of all kinds have been available in Egypt for the past 13 years since the relevant law, No. 148, was introduced in August 2001. Yet only recently have there been moves to provide financing for home-buyers seeking to repay their loans over longer periods of up to 20 years. It is estimated that as many as two-thirds of individual home purchases are paid for...