Typically, a successful economy increases the potential for capital appreciation as the native citizens become wealthier and local affordability improves. However Egypt’s strong economy has done far more than that, Egypt is reinvesting capital into the improvement of everything. Development of services and facilities to enhance amenities, infrastructure and accessibility has taken place on a huge scale which has had a positive and direct affect on the overall appeal of Egypt as a place to holiday, live, retire or buy property.
Egyptian authorities have announced that they are planning to increase investment by 75% by 2012/2013 to $36.6 bn. Within this plan, there are 52 infrastructure projects including port development, expansion of renewable energy and road building.
In October 2009, the World Bank announced further investment, providing Egypt with $642 million to fund the countries planned power plant in North Giza. This power plant is just part of a huge investment scheme to increase the Egyptian power capacity following the recent increase in energy demand.
The World Bank has also allocated US$50 million to fund the country’s first solar power plant in Koraymat. Egypt is progressing well with all areas of its renewable energy strategy. In August 2009, the state news agency MENA reported that 32 companies have presented their bids for a tender to construct a 250MW wind farm on Egypt’s east coast.
Buses are how the majority of Egyptians get around the country. You can get almost anywhere on the bus, and the service is reliable and relatively safe.
Service is divided up geographically between a number of older companies including West Delta, East Delta, Upper Egypt, and Pullman. High-volume destinations such as Dahab, Sharm el Sheikh, Hurghada, and Luxor are served by Super Jet, which is just slightly more expensive and has newer buses with air-conditioning and toilets.
The newly built Turgoman bus station in the middle of Cairo services all destinations in Egypt.
Driving yourself is a viable option and will probably work out to be cheaper and more flexible if you’re driving from town to town. On the other hand, for getting around towns, it is recommended to take a taxi or hire a driver. Between congestion and lack of parking, your own car is more of a burden than anything else. Petrol stations are not hard to find, though they tend to be widely spaced out in the desert, so it’s wise to fill up the tank at every opportunity.
There are a few toll roads in Egypt. Going to Ain Sukhna, for example, to Fayum or Alexandria will cost you LE2 (36¢/18p). Also worth noting are the security checkpoints, where you may be asked to hand over your documents and answer a few questions.
There is a functional north-south railway backbone in Egypt, so travel by train between Aswan in the south and Alexandria in the north is a pleasant and practical way of seeing the country and getting to where you’re going. With the exception of the three-times-a-week service to Marsa Matruh, there are few services outside this corridor.