tallest tower, the Nile Tower. Designed by the late acclaimed Zaha Hadid, the government is working with project developers to design the Nile Tower that will rise 70 stories and include luxury apartments and a hotel.
According to Ayman Sami, Country Head, Egypt, JLL, Cairo’s population is expected to hit 40 million by 2050 and competition for housing is fierce in the capital.
“In 2017, sale prices in New Cairo spiked by 50% and, while housing in the new city will likely be only slightly more affordable than current Cairo, it promises a cleaner, greener, more sustainable way of life,” he says.
For local and international investors, Sami says that the real estate market stands as the top performing sector due to real demand that guarantees a healthy return on investment. “Moreover, following the pound devaluation, property in the Egyptian market holds a highly competitive ticket price compared to that in other countries.”
Looking at some of the projects from new metropolises and expanding cities at the show this year; Marketing Director at Safwa Urban Development (SUD), Ahmed Nabil Amer says the company will showcase residential project Capital Heights 2, and The Hub, both located in the New Capital. In addition, SUD will launch its brand new commercial project at this year’s show in Obour City.
“For homebuyers and investors attending the show, we believe that it’s important for them to find investments that are in attractive destinations and can guarantee them a high ROI,” says Amer. “We will also be offering a 0% down payment and up to a 7-year-installment with 0% interest and a discount of up to 200,000 EGP for some units.”
Other projects this year includes the residential project being launched at the show by Misr Al-Ghad in Bait Alwatan in the fifth settlement, New Cairo. The developer will be offering a EGP 50,000 discount on the new project.
While Landmark for Real Estate Investments will be offering Elite New Capital, located in the New Capital. The developer will include a 5% discount, 6-year payment instalments, and a 2% minimum payment.
NextMove Egypt, powered by Cityscape, is supported by Platinum Sponsor Next Home, and Silver Sponsors; Master Group and Contact Mortgage Finance.
For more information visit: www.nextmoveegypt.com.