Community, neighbourhood centres drive Cairo’s retail market in Q3

SourceZawya
SectorRetail
CountryEgypt

The retail sector in Cairo gained momentum in the third quarter, driven by increased demand from food and beverage tenants for smaller neighbourhoods and community malls with an abundance of outdoor space, according to leading property expert JLL.During Q3 2020, many retail lease agreements were reverted to original pre-Covid commitments, increasing the rents in primary and secondary malls by 10% and 3% respectively, stated JLL in its Q3 Cairo Real Estate Market Performance report. “The pandemic has brought with it many implications to the real estate sector with the retail market having been affected the most. Now more than ever, it is important for retailers to be able to offer a spacious place for people to meet outside of their home, while ensuring customers are met with positive and unique ...read more...