With an increase of 2.5 Million people annually, it’s only logical how the demand for housing is likely to keep growing in spite of the recent global pandemic that affected politics and economy.
According to the IMF, the economic forecast for Egypt’s economy outperformed the other economies in the region, and a large chunk of it is thanks to the real estate domain.
With the economy nourishing, the real estate sector is looking good and it’s expected to keep growing especially in light of so many projects putting more emphasis on the buyers’ needs and tailoring their offerings to suit most classes.
Real estate is more than buying an apartment in a neighborhood, and that’s why when asked about how real estate sectors are expected to recover from recent updates, analysts and experts expected a more resilient performance in the residential asset class, while retail is expected to recover quickly as it tends to be sensitive to changes, and finally, with the booming in online businesses, it’s strongly believed that demand will be in order for warehousing services and more.
On the other hand, the recession of tourism is directly affecting the hospitality’s revival; it’s even expected to be the last to recover, not only in Egypt, but globally.