Investors have become increasingly optimistic about Egypt’s property sector as the government has taken further steps to sure up any concerns over disputes that arose after the departure of Mr Mubarak.
The Government have announced that they will resolve any outstanding land bank issues as part of their plan to give better legal protection to property owners and create a much more secure market for investors.
Mostafa Abdel Aziz, the regional trading manager at Beltone Financial in Cairo commented on how the markets reacted to the news.
“[The government announcement] was the first trigger that moved the sector and enhanced investor sentiment,”
The official announcement has arrived with a raft of other positive actions that have recently improved the position of Egypt’s property sector, including a recovery of the tourism industry as well as substantial foreign investment from countries such as Saudi Arabia.
Source: The National