![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2024\/09\/shutterstock_2331832665-1-2-800x534.jpg\")
<\/figure>\n\n\n\nHighlights <\/strong><\/h2>\n\n\n\n- The real estate and construction sectors witnessed notable growth in Q2 2024, expanding by 3.75%<\/strong> and 5.47%<\/strong>, respectively.
Both sectors collectively contributed approximately 18.3%<\/strong> to the total nominal GDP.<\/li><\/ul>\n\n\n\n- In early 2024, Egypt and ADQ, an Abu Dhabi investment fund, made a major deal to develop the Ras el-Hekma<\/a> resort, injecting $35 billion<\/strong>, which is a great boost to the economy.
This includes $24 billion<\/strong> in foreign direct investment (FDI). The project is expected to draw up to $150 billion <\/strong>in total investments for infrastructure and real estate, greatly impacting both sectors.<\/li><\/ul>\n\n\n\n- The real estate sector in Egypt has become one of the go-to options for nationals and foreign investors who want to invest in the country. This is due to various reasons.
- The market achieves good profits. <\/li>
- It is one of the limited sanctuaries to save the value of the money.<\/li><\/ul><\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2024\/09\/Screenshot-2024-09-23-at-2.58.53\u202fPM-800x296.png\")
<\/figure>\n\n\n\nMarket Prospects <\/strong><\/h2>\n\n\n\n- The Egyptian real estate market is characterised by a strong presence of residential and mixed-use projects.
Both sectors have a significant share of the market, with 654<\/strong> ongoing projects valued at $307,182 million,<\/strong> representing roughly 53.9% <\/strong>of the total number of projects and a dominant 67.4% <\/strong>of the total investment value.<\/li><\/ul>\n\n\n\n- The private sector remains the key driver behind Egypt’s residential real estate market. It has a share of over 68.6%<\/strong> of ongoing residential projects, valued at a substantial $210.674 billion<\/strong>.
This translates to an 87.3% <\/strong>share of all residential projects by the end of Q2 2024.
On the other hand, the government has a considerably smaller number of projects, which is 83<\/strong> projects valued at $96.508 billion<\/strong>.
This represents only 12.7%<\/strong> of the total ongoing residential projects.<\/li><\/ul>\n\n\n\nOngoing Projects<\/strong><\/h3>\n\n\n\n- The ongoing projects are distributed across 21<\/strong> governorates in Egypt, with the private sector in 20<\/strong> governorates and the government in 13<\/strong> governorates.
Additionally, Aswan is the only governerate where the government solely drives development. <\/li><\/ul>\n\n\n\n![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2024\/09\/Screenshot-2024-09-23-at-3.10.27\u202fPM-800x277.png\")
<\/figure>\n\n\n\nCairo <\/strong><\/p>\n\n\n\n- During Q2, Cairo remained the leader in residential real estate investment, attracting around 56.1%<\/strong> of the total investment and 42%<\/strong> of all ongoing projects. This percentage translates to 275<\/strong> projects spread across 22<\/strong> distinct locations. <\/li><\/ul>\n\n\n\n
- In addition, the New Administrative Capital is the most popular area for new projects, including 39.6%<\/strong> of Cairo’s ongoing projects. New Cairo follows it with a share of 29.1%<\/strong><\/li><\/ul>\n\n\n\n
Giza<\/strong><\/p>\n\n\n\n- Giza is home to around 17.7%<\/strong> of all ongoing projects and attracts 16.4%<\/strong> of the total investments. <\/li>
- These projects are distributed across 9<\/strong> distinct locations within the governorate.<\/li><\/ul>\n\n\n\n
- 6th of October City leads new investments, accounting for 54.8%<\/strong> of Giza’s total investment and 37.9%<\/strong> of its ongoing projects. <\/li>
- Sheikh Zayed City<\/a> follows with 25.9%<\/strong> of Giza’s active projects.<\/li><\/ul>\n\n\n\n
The Egyptian real estate market exhibits a diverse range of completion rates for ongoing projects, which are as follows:<\/p>\n\n\n\n
- 55.5% <\/strong>of these initiatives have progressed beyond the halfway point<\/li>
- Approximately 10.4%<\/strong> with a completion rate over 90%<\/strong> <\/li>
- 18.5%<\/strong> of the projects are complete, with a percentage from 75%<\/strong> to 90%<\/strong>.<\/li><\/ul>\n\n\n\n
Cairo<\/strong><\/p>\n\n\n\nThe capital\u2019s real estate market experienced notable growth in the ongoing projects\u2019 construction; check it below: <\/p>\n\n\n\n
- 62.5%<\/strong> of its ongoing projects surpassing the halfway point in construction. <\/li>
- 10.9%<\/strong> with a completion rate over 90% <\/strong><\/li>
- 23.3%<\/strong> of the projects are complete, with a percentage from 75%<\/strong> to 90%<\/strong>.<\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2024\/09\/Screenshot-2024-09-23-at-2.57.29\u202fPM-800x343.png\")
<\/figure>\n\n\n\nLaunched Projects <\/strong><\/h3>\n\n\n\n- Although the number of newly launched real estate projects in Egypt during Q2 2024 remained at 14, the same as last year, there was a notable difference in their overall value.<\/li>
- The total value of these new projects in 2024 significantly increased to $3,799 million<\/strong>, which is nearly double the value of projects launched in Q2 2023.
This significant increase might be attributed to high inflation rates and currency devaluation, which have likely led to a rise in raw material prices for construction.<\/li><\/ul>\n\n\n\n- Cairo remained the top location for new projects, featuring 9 launches and a dominant 72.5%<\/strong> of the total value. <\/li><\/ul>\n\n\n\n
- Giza comes in second place with the launch of 2<\/strong> projects, contributing approximately 18.6%<\/strong> of the total value.<\/li>
- During Q2 2024, the Egyptian real estate market witnessed the participation of many contractors, with 12<\/strong> different companies contributing to the launching of these projects.<\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/www.propertyfinder.eg\/blog\/wp-content\/uploads\/2024\/09\/Screenshot-2024-09-23-at-3.09.52\u202fPM-800x281.png\")
<\/figure>\n\n\n\nDelivered Projects<\/strong><\/h3>\n\n\n\n- In Q2 2024, the project deliveries of the private sector decreased by 55%<\/strong> compared to the same period last year.<\/li>
- There were only 4 projects, located in Matruh, Suez<\/a>, and Giza, that have been completed with a value of $393<\/strong>, showing a decrease of 27% <\/strong>from the previous year.<\/li><\/ul>\n\n\n\n
New Administrative Capital <\/strong><\/h2>\n\n\n\n- By the end of June 2024, the New Administrative Capital (NAC) had 109<\/strong> ongoing projects with a total value of approximately $70,646 million<\/strong>.
They represent a significant portion of investment activity, contributing 41%<\/strong> of the total value of ongoing projects in Cairo and 23%<\/strong> of all ongoing projects in Egypt.<\/li><\/ul>\n\n\n\n- The private sector dominates in terms of ongoing projects in NAC, with 93<\/strong> ones, representing around 85.3%<\/strong> of the total.<\/li><\/ul>\n\n\n\n
- The government sector makes up most of the total investment, about 71.3%<\/strong>, with a total value of $50,338 million<\/strong>.
This shows that the government tends to handle bigger projects in the New Administrative Capital (NAC), with an average project value of $3,146 million<\/strong>, while the private sector focuses on smaller residential projects averaging $218 million<\/strong>.<\/li><\/ul>\n\n\n\nConstruction progress in the New Administrative Capital (NAC) is as follows: <\/p>\n\n\n\n
- Approximately 69.7%<\/strong> of ongoing projects surpass the halfway point in construction.<\/li>
- 11<\/strong> projects with a completion rate of over 90%<\/strong><\/li>
- 27.5%<\/strong> of projects are complete, with a percentage from 75%<\/strong> to 90%<\/strong>.<\/li><\/ul>\n\n\n\n
Although no projects were delivered in the New Administrative Capital (NAC) during Q2 2024, completions are not anticipated until the end of the year.<\/p>\n\n\n\n
This likely reflects the focus on larger-scale government projects, which typically take longer to complete than smaller developments.<\/p>\n\n\n\n
High-in-Demand Areas for Rent and Sale<\/strong><\/h2>\n\n\n\n
Both sectors collectively contributed approximately 18.3%<\/strong> to the total nominal GDP.<\/li><\/ul>\n\n\n\n
- In early 2024, Egypt and ADQ, an Abu Dhabi investment fund, made a major deal to develop the Ras el-Hekma<\/a> resort, injecting $35 billion<\/strong>, which is a great boost to the economy.
This includes $24 billion<\/strong> in foreign direct investment (FDI). The project is expected to draw up to $150 billion <\/strong>in total investments for infrastructure and real estate, greatly impacting both sectors.<\/li><\/ul>\n\n\n\n- The real estate sector in Egypt has become one of the go-to options for nationals and foreign investors who want to invest in the country. This is due to various reasons.
- The market achieves good profits. <\/li>
- It is one of the limited sanctuaries to save the value of the money.<\/li><\/ul><\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\n
Market Prospects <\/strong><\/h2>\n\n\n\n
- The Egyptian real estate market is characterised by a strong presence of residential and mixed-use projects.
Both sectors have a significant share of the market, with 654<\/strong> ongoing projects valued at $307,182 million,<\/strong> representing roughly 53.9% <\/strong>of the total number of projects and a dominant 67.4% <\/strong>of the total investment value.<\/li><\/ul>\n\n\n\n- The private sector remains the key driver behind Egypt’s residential real estate market. It has a share of over 68.6%<\/strong> of ongoing residential projects, valued at a substantial $210.674 billion<\/strong>.
This translates to an 87.3% <\/strong>share of all residential projects by the end of Q2 2024.
On the other hand, the government has a considerably smaller number of projects, which is 83<\/strong> projects valued at $96.508 billion<\/strong>.
This represents only 12.7%<\/strong> of the total ongoing residential projects.<\/li><\/ul>\n\n\n\nOngoing Projects<\/strong><\/h3>\n\n\n\n
- The ongoing projects are distributed across 21<\/strong> governorates in Egypt, with the private sector in 20<\/strong> governorates and the government in 13<\/strong> governorates.
Additionally, Aswan is the only governerate where the government solely drives development. <\/li><\/ul>\n\n\n\n<\/figure>\n\n\n\nCairo <\/strong><\/p>\n\n\n\n
- During Q2, Cairo remained the leader in residential real estate investment, attracting around 56.1%<\/strong> of the total investment and 42%<\/strong> of all ongoing projects. This percentage translates to 275<\/strong> projects spread across 22<\/strong> distinct locations. <\/li><\/ul>\n\n\n\n
- In addition, the New Administrative Capital is the most popular area for new projects, including 39.6%<\/strong> of Cairo’s ongoing projects. New Cairo follows it with a share of 29.1%<\/strong><\/li><\/ul>\n\n\n\n
Giza<\/strong><\/p>\n\n\n\n
- Giza is home to around 17.7%<\/strong> of all ongoing projects and attracts 16.4%<\/strong> of the total investments. <\/li>
- These projects are distributed across 9<\/strong> distinct locations within the governorate.<\/li><\/ul>\n\n\n\n
- 6th of October City leads new investments, accounting for 54.8%<\/strong> of Giza’s total investment and 37.9%<\/strong> of its ongoing projects. <\/li>
- Sheikh Zayed City<\/a> follows with 25.9%<\/strong> of Giza’s active projects.<\/li><\/ul>\n\n\n\n
The Egyptian real estate market exhibits a diverse range of completion rates for ongoing projects, which are as follows:<\/p>\n\n\n\n
- 55.5% <\/strong>of these initiatives have progressed beyond the halfway point<\/li>
- Approximately 10.4%<\/strong> with a completion rate over 90%<\/strong> <\/li>
- 18.5%<\/strong> of the projects are complete, with a percentage from 75%<\/strong> to 90%<\/strong>.<\/li><\/ul>\n\n\n\n
Cairo<\/strong><\/p>\n\n\n\n
The capital\u2019s real estate market experienced notable growth in the ongoing projects\u2019 construction; check it below: <\/p>\n\n\n\n
- 62.5%<\/strong> of its ongoing projects surpassing the halfway point in construction. <\/li>
- 10.9%<\/strong> with a completion rate over 90% <\/strong><\/li>
- 23.3%<\/strong> of the projects are complete, with a percentage from 75%<\/strong> to 90%<\/strong>.<\/li><\/ul>\n\n\n\n
<\/figure>\n\n\n\nLaunched Projects <\/strong><\/h3>\n\n\n\n
- Although the number of newly launched real estate projects in Egypt during Q2 2024 remained at 14, the same as last year, there was a notable difference in their overall value.<\/li>
- The total value of these new projects in 2024 significantly increased to $3,799 million<\/strong>, which is nearly double the value of projects launched in Q2 2023.
This significant increase might be attributed to high inflation rates and currency devaluation, which have likely led to a rise in raw material prices for construction.<\/li><\/ul>\n\n\n\n- Cairo remained the top location for new projects, featuring 9 launches and a dominant 72.5%<\/strong> of the total value. <\/li><\/ul>\n\n\n\n
- Giza comes in second place with the launch of 2<\/strong> projects, contributing approximately 18.6%<\/strong> of the total value.<\/li>
- During Q2 2024, the Egyptian real estate market witnessed the participation of many contractors, with 12<\/strong> different companies contributing to the launching of these projects.<\/li><\/ul>\n\n\n\n
<\/figure>\n\n\n\nDelivered Projects<\/strong><\/h3>\n\n\n\n
- In Q2 2024, the project deliveries of the private sector decreased by 55%<\/strong> compared to the same period last year.<\/li>
- There were only 4 projects, located in Matruh, Suez<\/a>, and Giza, that have been completed with a value of $393<\/strong>, showing a decrease of 27% <\/strong>from the previous year.<\/li><\/ul>\n\n\n\n
New Administrative Capital <\/strong><\/h2>\n\n\n\n
- By the end of June 2024, the New Administrative Capital (NAC) had 109<\/strong> ongoing projects with a total value of approximately $70,646 million<\/strong>.
They represent a significant portion of investment activity, contributing 41%<\/strong> of the total value of ongoing projects in Cairo and 23%<\/strong> of all ongoing projects in Egypt.<\/li><\/ul>\n\n\n\n- The private sector dominates in terms of ongoing projects in NAC, with 93<\/strong> ones, representing around 85.3%<\/strong> of the total.<\/li><\/ul>\n\n\n\n
- The government sector makes up most of the total investment, about 71.3%<\/strong>, with a total value of $50,338 million<\/strong>.
This shows that the government tends to handle bigger projects in the New Administrative Capital (NAC), with an average project value of $3,146 million<\/strong>, while the private sector focuses on smaller residential projects averaging $218 million<\/strong>.<\/li><\/ul>\n\n\n\nConstruction progress in the New Administrative Capital (NAC) is as follows: <\/p>\n\n\n\n
- Approximately 69.7%<\/strong> of ongoing projects surpass the halfway point in construction.<\/li>
- 11<\/strong> projects with a completion rate of over 90%<\/strong><\/li>
- 27.5%<\/strong> of projects are complete, with a percentage from 75%<\/strong> to 90%<\/strong>.<\/li><\/ul>\n\n\n\n
Although no projects were delivered in the New Administrative Capital (NAC) during Q2 2024, completions are not anticipated until the end of the year.<\/p>\n\n\n\n
This likely reflects the focus on larger-scale government projects, which typically take longer to complete than smaller developments.<\/p>\n\n\n\n
High-in-Demand Areas for Rent and Sale<\/strong><\/h2>\n\n\n\n
- 11<\/strong> projects with a completion rate of over 90%<\/strong><\/li>
- Approximately 69.7%<\/strong> of ongoing projects surpass the halfway point in construction.<\/li>
- The government sector makes up most of the total investment, about 71.3%<\/strong>, with a total value of $50,338 million<\/strong>.
- The private sector dominates in terms of ongoing projects in NAC, with 93<\/strong> ones, representing around 85.3%<\/strong> of the total.<\/li><\/ul>\n\n\n\n
- There were only 4 projects, located in Matruh, Suez<\/a>, and Giza, that have been completed with a value of $393<\/strong>, showing a decrease of 27% <\/strong>from the previous year.<\/li><\/ul>\n\n\n\n
- During Q2 2024, the Egyptian real estate market witnessed the participation of many contractors, with 12<\/strong> different companies contributing to the launching of these projects.<\/li><\/ul>\n\n\n\n
- Giza comes in second place with the launch of 2<\/strong> projects, contributing approximately 18.6%<\/strong> of the total value.<\/li>
- Cairo remained the top location for new projects, featuring 9 launches and a dominant 72.5%<\/strong> of the total value. <\/li><\/ul>\n\n\n\n
- 10.9%<\/strong> with a completion rate over 90% <\/strong><\/li>
- Approximately 10.4%<\/strong> with a completion rate over 90%<\/strong> <\/li>
- Sheikh Zayed City<\/a> follows with 25.9%<\/strong> of Giza’s active projects.<\/li><\/ul>\n\n\n\n
- These projects are distributed across 9<\/strong> distinct locations within the governorate.<\/li><\/ul>\n\n\n\n
- Giza is home to around 17.7%<\/strong> of all ongoing projects and attracts 16.4%<\/strong> of the total investments. <\/li>
- In addition, the New Administrative Capital is the most popular area for new projects, including 39.6%<\/strong> of Cairo’s ongoing projects. New Cairo follows it with a share of 29.1%<\/strong><\/li><\/ul>\n\n\n\n
- During Q2, Cairo remained the leader in residential real estate investment, attracting around 56.1%<\/strong> of the total investment and 42%<\/strong> of all ongoing projects. This percentage translates to 275<\/strong> projects spread across 22<\/strong> distinct locations. <\/li><\/ul>\n\n\n\n
- The ongoing projects are distributed across 21<\/strong> governorates in Egypt, with the private sector in 20<\/strong> governorates and the government in 13<\/strong> governorates.
- The private sector remains the key driver behind Egypt’s residential real estate market. It has a share of over 68.6%<\/strong> of ongoing residential projects, valued at a substantial $210.674 billion<\/strong>.
- The Egyptian real estate market is characterised by a strong presence of residential and mixed-use projects.
- The real estate sector in Egypt has become one of the go-to options for nationals and foreign investors who want to invest in the country. This is due to various reasons.