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Égypt-actus
Égypt-actus
revue de presse sur l'actualité culturelle, archéologique, politique et sociale de l'Égypte
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A number of real estate companies extend deadlines for payment periods in order to attract new buyers and investors

A number of real estate companies extend deadlines for payment periods in order to attract new buyers and investors | Égypt-actus | Scoop.it

Recently, a number of Egypt’s real estate companies, in an attempt to increase sales, stimulate demand and overcome the recent declines in Egypt’s real estate market, have undertaken an innovative advertising campaign to promote investment in housing units for periods of up to five years. These investments would cover the costs energy and electricity for these units via solar panels, provide tenants with free furniture, and extend traditional payment deadlines by several years.

Investors stated that the success of these projects would depend on a number of factors, particularly increases in demand, which would help give the market back its strength.

The new campaigns came as attempts by a number of real estate companies to address problems related to funding, a fact which is largely the result of a decline in the number of sales seen recently throughout the market.

 

Hamada Ismail and Ahmed Samir / Daily news Egypt

More : http://www.dailynewsegypt.com/2013/03/28/a-number-of-real-estate-companies-extend-deadlines-for-payment-periods-in-order-to-attract-new-buyers-and-investors/

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Cityscape Egypt expects big boost in visitors

Cityscape Egypt expects big boost in visitors | Égypt-actus | Scoop.it

This year’s Cityscape Egypt exhibition, the country's only international real estate investment and development event, is expecting a significant increase in attendance, organisers say.

The 2012 event attracted around 10,000 visitors, but it is hoped that the quieter political background and moving the show from February weekdays to 28-31 March, to include the weekend, will further boost numbers.(...)

Marketing Manager Adele Laker, tells OPP Connect, “We are expecting a significant increase in visitors numbers this year’s edition of Cityscape Egypt, up from the 10,000 visitors the event welcomed in 2012. (....)

“A growing population that is considered the largest in the Arab world, a freely elected president, a new government that is proactively encouraging foreign investment, and a market that previously had real, non-inflated property prices, all contribute strongly to keeping Egypt a very lucrative and attractive market for serious developers, investors and financiers.”

The four-day event, which takes place at the Cairo International Convention Centre and is held in association with Next Move, is free for visitors. It offers a unique opportunity for visitors to explore the full array of opportunities Egypt’s real estate market has to offer.

Cityscape Egypt features investor round-tables, workshops, masterclasses, an industry awards night and more. It is organised by Informa Exhibitions.

Adele Laker says the show is attracting developers from further afield. “Cityscape Egyptis becoming a more international event, with investors and developers from countries including the GCC and Turkeyattending to establish and increase their presence in Egypt.

“Several major developers from Qatar and the UAE have already been actively developing projects in Egypt for several years, and have continued to announce new developments across the country despite the past year’s political instability.

“Over the past 12 years, Cityscape has developed a leading portfolio of real estate investment events across markets including the UAE, Qatar and Saudi Arabia. With a global network exceeding 500,000 real estate investors and professional from 162 countries”(...)

Amr Sheira, Chief Executive Officer, ofCompuME,Egypt, says of the 2012 show, “Cityscape inEgypt this year added a lot of value. It came after one year from the revolution, and paved the way to a new beginning in the look and shape of event organizations and market results.”



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Property prices rise in key Cairo areas as Egypt battles inflation

Property prices rise in key Cairo areas as Egypt battles inflation | Égypt-actus | Scoop.it

Property prices in Cairo’s two large satellite cities rose by 8 percent at the beginning of 2013, amid wider economic turmoil and Egypt's ongoing battle with high inflation.

Sale-price rises in New Cairo and 6th of October City are “largely due to developers seeking to pass on increases in construction costs to end buyers,” according to a report issued today by Jones Lang LaSalle.


 

The real estate firm, which measured villa and apartment prices in the two areas, said the 8 percent price rise was felt in the first three months of this year compared with the last quarter of 2012.

Asking prices for apartments in New Cairo rose by 4 percent to $1,180 per square meter, while villa prices rose by 9 percent.

 

The 6th of October area saw apartment prices rise by 8 percent to an average of $1,071 per square meter, with a 7 percent hike in villa costs.(...)

 

Egypt is currently grappling with soaring inflation among other economic woes. The government is currently in talks with the IMF to secure a $4.8bn loan.(...)

 

Cairo’s hotel market “continues to slowly recover” since the revolution hit Egypt’s tourism industry, the report noted.

“[Hotel] occupancy rates currently stand at 51 percent  in January 2013, showing a 5 percent increase compared to the same month last year…

Hotels in Central Cairo are adopting a number of strategies to increase occupancy levels, including discounting room rates. Despite improving occupancies, the average daily rates in January have declined by 7 percent compared to 2012, falling from $54 to $50.”

 

More on:http://english.alarabiya.net/en/business/2013/03/26/Property-prices-up-in-Cairo-districts-despite-Egypt-s-economic-woes.html

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