The aftermath of the resignation of Hosni Mubarak, Egypt’s former president, hit many sectors hard. Banks closed, tourists fled, stock trading halted and retailers were left with empty shelves. In the year and a half since, the country has begun to regain its economic footing, though it still grapples with weak growth, low foreign exchange reserves...
Foreign ownership of property, whether for individuals or for companies, is outlined in a number of pieces of legislation that have been passed in recent years, with a view to creating a more liberal environment for real estate investment. Perhaps the most significant law is that of Decree No. 548 that was passed in 2008. This ruling states that...
Large-scale demand and a shortage of supply in most segments has been the recent story of Egypt’s real estate sector. However, the disruptive impacts of the revolution in early 2011 led to delayed projects, cancelled bookings for off-plan purchases and quashed or downsized expansion plans.
Demand was surprisingly buoyant for construction materials in Egypt in 2011. The revolution that began on January 25 of the year caused multiple delays and cast uncertainty on several major construction projects in the private sector, and across most areas of the economy new ventures were put on hold.
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