Egyptian economic expansion to stabilize to around 4.5% between 2021, 2022: Savills Egypt

Egyptian economic expansion to stabilize to around 4.5% between 2021, 2022: Savills Egypt

CAIRO - 16 June 2021: The Egyptian economic expansion will moderate to around 4.5 percent between 2021 and 2022, but, starting 2023, GDP growth is likely to return to its pre-pandemic rates of above 5.5 percent, Head of Savills Egypt, Catesby Langer-Paget stated Tuesday. "We can very much see the impact of Egypt's economic expansion on the real estate market, as the market is maintaining its position and is regarded as an attractive investment. Also, one should note that the decrease of interest rates in the market is positioning real estate assets as the safe haven for investments across the country, driving demand for local investors, Egyptian expatriates as well as foreign investors,“ Langer-Paget added. Savills, one of the world's leading real-estate consultancies, launched its first Egypt Property Report. This report offers a comprehensive look at the Greater Cairo real estate market, with in-depth analysis of the residential, offices and retail sectors. During a press conference to announce the release of the Savills Egypt Property Report, Langer-Paget said: "Marking our third year in Egypt, this report will be the first of many, as this industry continues to thrive and develop. Globally, we release hundreds of reports annually from our 650