Growing confidence in the Egyptian real-estate sector has lead to a 5th consecutive day of positive trading. While nearly all sectors within the EGX30 have experienced growth, property stocks made the strongest gains.
Real-estate stocks as a whole gained 4.15% on Sunday, but individually some big developers recorded growth from 5% to in excess of 7%.
The increase in trader confidence has been attributed to the industry’s strong performance on the ground with increased property transactions and enquiries. Experts have citied the window of opportunity created by the temporarily weakened Egyptian pound which has attracted more investors into the market.