The report explains that developers have not changed their development strategies. They continue to strive to implement their projects on schedule, based on strong and steady demand.
According to the report, the market is entering the current phase from a stronger position. The stability of the financial system and the significant liquidity of foreign currency in the banking sector allowed developers to overcome difficulties: rising prices for energy and building materials, fluctuations in the exchange rate, disruptions in supply chains. Despite the challenges, there was no massive revision of real estate prices.
Signs of market maturity are also evident in the ability of companies to hedge risks in advance. This helped to maintain price discipline and maintain a focus on sales volumes and completion rates, using the accumulated experience in effective cost management.
Speaking of foreign investments, Savills confirms that the confidence of the Gulf countries in Egyptian real estate is still high, and capital continues to flow into large projects, especially on the North Coast. Real estate remains the main "quiet haven" for hedging against inflation and preserving the long-term value of savings.
Source: Businessmen Egypt
