Gated communities in Cairo have increased in demand over the first quarter of 2021 following a positive performance in the residential sector.
“This is mainly due to the increase in demand for newer gated communities which are now becoming more mature and livable,” said Ayman Sami, Country Head, JLL Egypt. “The overall rental market increased marginally by 2% and 1% annually in 6th of October and New Cairo, respectively.”
AT THE MOMENT, CAIRO'S RESIDENTIAL MARKET HAS SEEN:
- Completion of around: 4,000 units, bringing the total residential stock to around 212,000 units.
- An additional 21,000 units are expected to be delivered by the end of the year.
- JLL expects the sector to witness a boost in demand following the recent announcement by the Central Bank of Egypt (CBE) that it has launched a new mortgage finance programme with a 3% interest rate.
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