The year started well for the residential sector of Cairo. More than 7,000 housing units were commissioned, and almost 24,000 more apartments are planned to be completed during the year. Developers are actively initiating new projects, paying special attention to New Cairo and its upcoming expansion to the East. Among the promising ones, At East from Al Ahly Sabbour in Mostakbal and The Crest from IL Cazar Developments in New Cairo should be particularly noted.
There is an unprecedented increase in housing prices in the secondary market of the Egyptian capital, according to the JLL report for the 1st quarter of 2024. Apartments rose in price by 83% in the year to October 2023, and by 95% in New Cairo. Rental rates increased by 42% and 43% in Cairo and New Cairo, respectively.
Source: Daily News Egypt