New urban communities emerging across the Egyptian capital are creating unprecedented development opportunities and driving accelerated returns on investment for real estate investors. Aligned with the goals of Egypt Vision 2030, which aims to expand urban areas to enhance the quality of life and meet the needs of a rapidly growing population, several new and heritage locations across the capital are experiencing a surge in urban renewal. This is evident, especially in the New Administrative Capital and the historic centre of Downtown Cairo, which are both transforming the capital’s landscape and becoming key players in the regional real estate market. As ministries and government entities, state-run and private banks, embassies, and other vanguards of the Egyptian economy relocate to the technologically advanced, smart city of the future, in parallel, the old capital is also undergoing swift transformation, and its legacy buildings are being reimagined under a master plan to rejuvenate central Cairo.
With the new capital city taking up capacity and becoming fully functional, greenfield opportunities across different scales and asset classes are springing up in new urban areas such as New Cairo and 6th of October. However, developments within the heart of the city, in Downtown, are mainly brownfields, through asset repurposing and retrofitting of historical buildings and vacant properties. Led by the Sovereign Fund of Egypt (TSFE), these brownfield opportunities, when complete, will redefine the face of Downtown Cairo, delivering a new landscape for the emergence of vibrant, inclusive communities.
Work on these developments aims to reignite the tourism and real estate sectors, coming at a time when the country is attracting record FDI inflows and has significantly improved its external liquidity outlook in Q1 2024. With greater stability in the country’s macroeconomic environment, Egypt is also experiencing a new surge in investor confidence, marking a turning point in the sustained growth and development of the country’s real estate market.
