Egypt property market attracts $120bn from Mideast investors

Highlights

• The Middle East sovereign wealth funds have plans to inject up to $120 billion into Egypt, thus indicating their strong confidence in the country’s market growth, according to a report by Knight Frank MENA, a global real estate consultancy.
• Amidst the post-pandemic landscape, a revitalized global interest in Africa has emerged, underscored by significant investment commitments from major players.
• The report spotlights Egypt’s real estate market, particularly Cairo, as an outstanding prospect for investment. The vibrant city of Cairo alone is home to over 20 million people, making it a bustling metropolis. 

Source: Zawya

Our Takeaway

The unique combination of Egypt’s abundant heritage, advantageous geographical positioning, and rapidly growing economy position it as a prime choice among top investment locations. In general, this report reveals a renewed surge in global interest in Africa due to significant investment pledges from prominent global players, including the US, UK, South Korea, UAE, Saudi Arabia, Turkey, and China. The allocation of $2 billion by the UK towards sustainable initiatives across the continent, for instance, underscores the resurgent appeal of pivotal hub cities like Lagos, Nairobi, Cairo, Johannesburg, and Accra, as mentioned in the report.