New Egypt office for Jones Lang LaSalle
Leading global real estate investment and advisory firm Jones Lang LaSalle has opened an office in Egypt.
By setting up office in Egypt, according to Reuters, the company hopes to capitalise on the country’s “stable, cash fuelled” property market.
Whilst Egypt’s property sector was not immune from the effects of the economic downturn, it withstood them well compared to most other regions due to sustained local demand and low exposure to international credit markets.
In December, Jones Lang LaSalle revealed they hope to capitalise on the Egypt property market’s focus on affordable housing and the government’s increasing investment in tourism.
News of such a credible name such as Jones Lang LaSalle making their presence felt in Egypt is testament to expert opinion that Egypt looks set to be a property hotspot for the foreseeable future.
Source: Reuters