EGP705 billion..Total real estate investments in new cities

Cairo alone attracted 57% of investments in real estate projects, while Giza received 16%.

In the second quarter of this year, 32 innovators began construction on 34 projects in eight governorates at a total cost estimated at $7.7 billion.

New Administrative Capital

A quarter of the total investments in the Egyptian real estate market were concentrated in the second sector in the New Administrative Capital, with 97 projects under implementation for a total amount of $68.5 billion.

Construction of the new capital, located 35 kilometers southeast of Cairo, with a total area of 170,000 acres, began in 2015. The new city will house 6.5 million people when it is enacted.

New projects

“The second quarter of the real estate sector in Egypt was marked by a boom in new projects that exceeded all expectations. It also witnessed a successful success of projects, which left buyers and renters alike truly scratching their heads. In this surprising landscape, we look forward to a well-resourced home search.” Diversified and more enlightened in learning.

Number of residential real estate projects

The number of real estate and mixed-use residential projects in Egypt currently stands at 534 projects worth $329.57 billion, according to Property Finder.

705 billion pounds

Walid Abbas, Vice President of the Urban Community Authority, announced last week that the total investments in new cities in Egypt reached 705 billion pounds ($22.82 billion).

According to a report by Propertytender, The Egyptian private real estate sector is developing real estate projects worth $180 billion, representing 66% of the sector’s total investments and 85% of all real estate projects available worldwide.

Total investments

During the second quarter of 2023, about 11 practical projects were implemented around the world, bringing their total to $875 million, and the increase reached 19% in the number of projects and 46% in the economic comparison with the second of 2022. About 36% of this is close to Projects in Cairo, 28% of the total investments are distributed among four regions: Mokattam, Mostakbal City, the New Administrative Capital, and New Cairo. “Golden Gates Complex” by “Ebad Al-Rahman Real Estate Company” is the high-value project in Cairo, as it represents 49% of the total investments in the capital.

Giza Governorate recorded 27% of the projects delivered, which so far amounted to $322 million. Marakez Real Estate Development Company played an important role in the second sector of 2023, as it attracted investment projects worth $139 million in the “Green Land Complex” in 6th of October City. The same city launched the “Al Batal Real Estate Development Company” to hand over the “Rock Eden” complex in October Gardens, which supports $100 million.