03 June 2010

Egypt’s Real Estate to Outperform the Region, Credit Suisse Says

Bloomberg / Business Week

Egyptian Property stocks will outperform their peers in the Middle East and North Africa in the next 12 months on strong demand in the most populous Arab country.

The growth will come from “strong domestic housing demand recovery that should filter through developers’ sales figures this year, especially on the middle income segment,” Dubai- based analyst Ahmed Badr wrote in a report.

The Egyptian housing market remains a cash market that offers stable outlook for pricing compared to the Gulf, Badr wrote. The analyst expects “strong growth potential” in Cairo’s commercial property market, where occupancy rates remain at almost 100 percent, he wrote.

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