JLL: Cairo real estate shines in Q3’20 amid demand for neighbourhoods

  • Date: 25-Oct-2020
  • Source: Arabian Industry
  • Sector:Real Estate
  • Country:Egypt
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JLL: Cairo real estate shines in Q3’20 amid demand for neighbourhoods

The spike in demand for smaller neighbourhoods and community malls with large outdoor spaces has pushed the retail real estate sector in Cairo to gain momentum in the third quarter of 2020, according to JLL's Q3 Cairo Real Estate Market Performance report.During Q3 2020, many retail lease agreements returned to the pre-COVID commitments, increasing the rents in primary and secondary malls by 10% and 3%, respectively.Despite the signing of new leases, with retailers moving ahead with their expansion plans in prime areas, the demand for regional and super regional malls remain soft.Commenting on the market scenario, country head at JLL Egypt, Ayman Sami, said: “The pandemic has brought with it many implications to the real estate sector with the retail market having