As confidence returns to Egypt, large investment groups have thrown their weight behind the country’s recovery. One such organisation is Qatari Diar, the real-estate arm of Qatar’s sovereign-wealth fund who has announced planned investment of $543.8 million into Egypt’s property market.
The Bloomberg news network reported how the investment will be split between projects in Cairo and also coastal resorts on the Red Sea, eventually creating over 4000 jobs. This considerable investment is expected to significantly aid Egypt’s property market which currently struggles with a low supply of affordable housing.
Furthermore, Qatar’s state controlled news agencies have recently announced that the country may also invest $9 billion into the creation of a new port in the country.
This news comes after a series of reports indicating the worst is over for Egypt, a country that pre-revolution was one of the most highly anticipated real-estate markets in the world.
Now Egypt looks to re-build its tourism industry centred around many of the highly popular Red Sea resorts such as Hurghada where property investment has now become particularly popular.