Middle Eastern investors plan to inject $120bln in Egypt’s real estate market: Knight Frank MENA

Middle Eastern investors plan to inject $120bln in Egypt’s real estate market: Knight Frank MENA

Knight Frank MENA, a global real estate consultancy, has issued the Africa Horizons 2023/24 Report, a comprehensive analysis showcasing Africa’s remarkable post-pandemic recovery. With a focus on Egypt, this report reveals a renewed surge in global interest in the continent, underscored by substantial investment commitments from major global powers including the US, UK, South Korea, UAE, Saudi Arabia, Turkey, and China.

Amidst the post-pandemic landscape, a revitalized global interest in Africa has emerged, underscored by significant investment commitments from major players. The UK’s $2bn commitment to sustainable projects spanning the continent, alongside engagements from other global powers, highlights the renewed allure of key hub cities such as Lagos, Nairobi, Cairo, Johannesburg, and Accra.

The report spotlights Egypt’s real estate market, particularly Cairo, as an outstanding prospect for investment. Recently added to Knight Frank’s Africa network, Egypt’s market shines as North Africa’s rising star. Middle East sovereign wealth funds have plans to inject up to $120bn investment in the country, indicating their strong confidence in Egypt’s market growth.

Zeinab Adel, Head of Egypt Office of Knight Frank, said: “With a population exceeding 109.3 million, Egypt stands as an alluring prospect that beckons us. In the heart of this historic land lies an extraordinary opportunity,