Egypt’s most promising locations at Next Move
New Cairo continues to remain popular, with experts pointing to the reduced traffic congestion as the main reason for its popularity. The area contains a growing middle-class and is set to become one of Egypt’s most sought-after locations. Visitors to the show will be able to peruse through the various New Cairo residential projects on offer to find the home that best suits their family.
Another area to look at during this year’s Next Move is the New Administrative Capital, which property consultant Colliers says will be a ‘promising project with a vision of eventually being a city by itself’.
“The mixed-use elements and districts planned with the city has also seen demand from both local and international developers to acquire land for new projects,” says Colliers.
Ayman Sami of JLL agrees, saying that the New Administrative Capital has a slightly lower average square metre rate than more established cities. Another advantage to the area – he says – is that it will: “house all the government buildings, and will eventually pull businesses from the private sector.”
The city will eventually stretch over a staggering 490 sq km, with the first phase, which will take at least five years, encompassing 168 square km. The new capital will also boast the tallest building on the African continent and will include an amphitheatre and several museums.
Exhibitors at this year’s event include: Wadi Degla, Prime Properties, Memaar Al Morshedy, Porto Vacation Club, Diarna Real Estate, Amlak Masr Real Estate Investment, OUD, Tabarak Holding, Cecilia Lagoons, First Group, Zahraa El Maadi Investment & Development Company, La Mirada, Gardens (Emerald City), Egyptian Housing Finance Company, Sea View Development (Edar), to name a few.