Latest news with #AymanSami
Zawya
22-05-2025
- Business
- Zawya
Egypt's real estate market sees growth momentum in Q1 2025: JLL
Arab Finance: The real estate market in Egypt is witnessing significant growth momentum and activity on the back of easing inflation and currency stability, according to JLL's latest Q1 2025 Cairo Market Dynamics report. The hospitality sector saw the opening of two 5-star hotels, namely the Hilton Cairo Nile Maadi Hotel and Sofitel Cairo Downtown Nile, in the first quarter (Q1) of 2025. This added 870 keys to Cairo's hospitality sector. JLL expects 650 keys to be added in the 4- and 5-star segments by the end of the year, raising the total stock from the current 27,800 keys. In the office market, 10,500 square meters of new leasable space were added in Q1 2025, with 615,300 sqm expected by end-year. As for the residential market, 7,500 new units were delivered in the three months to March, bringing the total stock to more than 300,000. About 28,500 units are projected to be added to the residential market this year, mainly in East Greater Cairo. Q1 2025 also saw the addition of 27,000 sqm of new space in Cairo's retail sector. This brought the total stock to 3.22 million sqm. Ayman Sami, Country Head of JLL Egypt, said: 'Cairo's real estate market demonstrates remarkable adaptability and growth potential, driven by a confluence of factors including stabilizing economic conditions and easing inflationary pressures.' 'We are seeing consumer preferences across sectors evolve, and developers who can anticipate and respond to these trends will be best positioned to capitalize on the short- and long-term opportunities,' Sami noted. 'Government initiatives are stimulating economic growth, making Cairo's real estate market increasingly attractive for both domestic and international investors,' he added. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
13-04-2025
- Business
- Daily News Egypt
Egypt's resilient real estate market signals long-term potential, attracts foreign investors: JLL
Egypt has re-emerged as a resilient and attractive investment destination, particularly for international buyers, following a period of economic volatility and currency fluctuations in 2024. This renewed optimism was highlighted during JLL's 'Navigating Egypt's Real Estate Ecosystem in a Global Economy' event held in Cairo. With Egypt's GDP projected to grow by 4.8% in 2025, the outlook aligns with the broader positive momentum seen across the Middle East and Africa (MEA) real estate landscape. Key drivers include rapid economic diversification, transformative infrastructure developments, and an increasing focus on digital connectivity. While recent improvements in currency stability, easing inflation, and vital public sector reforms have contributed to accelerated economic growth, analysts at the JLL event emphasized that Egypt's long-term real estate appeal is anchored in structural strengths it shares with other thriving global markets. These strengths are reshaping the property landscape and reinforcing the country's investment credentials. 'Egypt's real estate sector has weathered economic headwinds and policy tightening, but prospects for 2025 are increasingly encouraging,' said James Allan, CEO of JLL Middle East and Africa, in his keynote address. 'Lower inflation, rising foreign direct investment, and a more stable Egyptian pound are reviving investor interest. We anticipate Cairo's hospitality and residential sectors will lead growth in the coming year, supported by the government's commitment to fostering a strong investment climate.' Egypt's appeal lies in its combination of high rental yields, dynamic business opportunities, rich cultural experiences, and modern amenities—particularly in metropolitan hubs like Cairo. Landmark projects such as the New Administrative Capital and a range of upscale waterfront developments are capturing the attention of foreign investors, offering lifestyle advantages, potential holiday rental income, and exclusive retirement options. With global inflationary pressures subsiding, Egypt is also benefitting from lower construction costs, enhancing the viability of new real estate projects. JLL forecasts continued positive growth in 2025, with evolving market conditions influencing buyer behaviour and preferences. However, despite the strong outlook, industry leaders cautioned that challenges remain. Fluctuations in the Egyptian pound, complex administrative processes for foreign buyers, and ownership restrictions in certain areas still present hurdles. To maintain investor confidence and support continued foreign capital inflows, speakers at the event advocated for legal reforms, streamlined property acquisition procedures, and broader adoption of digitised systems. Recommendations to bolster international appeal included launching targeted marketing campaigns, developing niche segments, enhancing property management services, and improving digital infrastructure. In his closing remarks, Ayman Sami, Country Head of JLL Egypt, stated: 'The government's proactive efforts to improve the investment environment are yielding tangible results. The rise in foreign direct investment is a clear vote of confidence in Egypt's real estate sector. While rising construction costs will continue to influence pricing, Egypt remains well-positioned to attract cross-border capital, thanks to its strong fundamentals. To maintain our competitive advantage, we must continue adapting to the global investment climate.' JLL experts also pointed to ongoing supply constraints that are pushing up both rental and sales prices for residential units in key areas such as New Cairo and 6th of October City. While new developments are underway, demand continues to outpace supply. Meanwhile, Cairo and Giza's hospitality sectors remain promising investment avenues, with planned completions in 2025 set to soar from just 301 units last year to 2,017 units—a nearly seven-fold increase.
Zawya
24-03-2025
- Business
- Zawya
Egypt's residential sector leads 2024 project awards, valued at $2.4bln: JLL
Egypt - After facing a challenging beginning to 2024, Egypt is projected to see its GDP growth accelerate to 4% in 2025. This is expected to be driven by easing inflation, improved currency stability, and ongoing public sector reforms, according to JLL's Middle East and Africa (MEA) Market Review and Outlook for 2025. Supporting this positive outlook are predictions for inflation to slow from 28.3% in 2024 to 17.8%, alongside a surge in foreign direct investment (FDI), particularly from GCC countries. This influx of capital and global confidence is expected to significantly boost Egypt's real estate sector, highlighting optimism about the country's economic potential and property market, JLL reports. Ayman Sami, Country Head of JLL Egypt, commented: 'Despite the economic turbulence and policy tightening, Egypt's real estate market is on an upward trajectory. The reduction in inflationary pressures, coupled with rising foreign investment and improved stability of the Egyptian pound, is reigniting investor interest. In 2025, Cairo's residential and hospitality segments are expected to be the main drivers of growth, supported by government efforts to enhance the investment environment.' Despite a range of challenges, including rising costs, escalating wages, and geopolitical conflicts affecting logistics and supply chains, the construction market in the MEA region slowed in 2024, experiencing a 20.2% decline to $90bn. In Egypt, the residential sector, valued at $2.4bn, dominated project awards, according to JLL. Even with pressures such as labor shortages, technology issues, and regulatory complexities, the MEA construction market remains robust, with a $1.9trn project pipeline. Ahmed Hemmat, Head of Projects and Development Services for JLL in Egypt, stated: 'Egypt's construction market has shown remarkable resilience amid global challenges. While geopolitical tensions and economic uncertainties have impacted the sector, national projects and growing foreign investments are creating significant opportunities for developers. Strategic partnerships and innovative solutions will be essential to overcoming challenges such as rising material costs and supply chain disruptions.' As the economic landscape improves, Cairo's residential sector continued to demonstrate resilience throughout 2024, with rental rates outperforming the broader market. The 6th of October City and New Cairo both saw substantial rental increases of approximately 108% year-on-year, while secondary markets experienced price hikes of 112% and 116%, respectively, largely driven by inflation. Healthy demand is expected to continue pushing rental and sales prices upward in 2025, though at a slower pace than in 2024. In 2024, Cairo saw the completion of approximately 24,000 new residential units, bringing the total inventory to around 293,000. In 2025, the sector is expected to expand further with the delivery of nearly 32,000 additional units. Cairo's hospitality sector also saw significant growth in 2024, as government initiatives improved the tourism landscape, attracting a record 15.7 million visitors to the capital. The hospitality sector benefited from an increase in supply activity, with key hotel operators like Hilton, Accor, and IHG announcing expansion plans. Though only one new hotel was completed in 2024, nearly 2,000 additional hotel rooms are expected to be added to the market in the coming year. While Cairo's hotel occupancy rates dipped by 5.4 percentage points in 2024, the average daily rate (ADR) saw a slight uptick of 0.52%. The hospitality sector's growth is set to continue, with additional supply supporting the goal of attracting 18 million visitors in 2025. Cairo's office market remained stable in 2024, with a slight reduction in vacancy rates and a modest drop of 1.8% in average rents. In 2025, nearly five times as many office units are scheduled for completion. The demand for Grade A office spaces, particularly in business parks and mixed-use developments offering amenities like ample parking, is driving up prices due to limited supply in relation to demand. This demand, especially from corporate occupiers, is expected to fuel further growth in the office sector over the medium to long term, while the growth of the outsourcing market will also stimulate increased activity in this space. After a period of downturn, Cairo's retail sector began to show signs of recovery toward the end of 2024. Average rental rates in Q4 remained stable compared to the previous quarter, with the secondary market leading the charge, showing an annual increase of 14%. Primary regional and super-regional malls also saw moderate growth, with rental rates rising by 6%.
Daily News Egypt
23-03-2025
- Business
- Daily News Egypt
Egypt's residential sector leads 2024 project awards, valued at $2.4bn: JLL
After facing a challenging beginning to 2024, Egypt is projected to see its GDP growth accelerate to 4% in 2025. This is expected to be driven by easing inflation, improved currency stability, and ongoing public sector reforms, according to JLL's Middle East and Africa (MEA) Market Review and Outlook for 2025. Supporting this positive outlook are predictions for inflation to slow from 28.3% in 2024 to 17.8%, alongside a surge in foreign direct investment (FDI), particularly from GCC countries. This influx of capital and global confidence is expected to significantly boost Egypt's real estate sector, highlighting optimism about the country's economic potential and property market, JLL reports. Ayman Sami, Country Head of JLL Egypt, commented: 'Despite the economic turbulence and policy tightening, Egypt's real estate market is on an upward trajectory. The reduction in inflationary pressures, coupled with rising foreign investment and improved stability of the Egyptian pound, is reigniting investor interest. In 2025, Cairo's residential and hospitality segments are expected to be the main drivers of growth, supported by government efforts to enhance the investment environment.' Despite a range of challenges, including rising costs, escalating wages, and geopolitical conflicts affecting logistics and supply chains, the construction market in the MEA region slowed in 2024, experiencing a 20.2% decline to $90bn. In Egypt, the residential sector, valued at $2.4bn, dominated project awards, according to JLL. Even with pressures such as labor shortages, technology issues, and regulatory complexities, the MEA construction market remains robust, with a $1.9trn project pipeline. Ahmed Hemmat, Head of Projects and Development Services for JLL in Egypt, stated: 'Egypt's construction market has shown remarkable resilience amid global challenges. While geopolitical tensions and economic uncertainties have impacted the sector, national projects and growing foreign investments are creating significant opportunities for developers. Strategic partnerships and innovative solutions will be essential to overcoming challenges such as rising material costs and supply chain disruptions.' As the economic landscape improves, Cairo's residential sector continued to demonstrate resilience throughout 2024, with rental rates outperforming the broader market. The 6th of October City and New Cairo both saw substantial rental increases of approximately 108% year-on-year, while secondary markets experienced price hikes of 112% and 116%, respectively, largely driven by inflation. Healthy demand is expected to continue pushing rental and sales prices upward in 2025, though at a slower pace than in 2024. In 2024, Cairo saw the completion of approximately 24,000 new residential units, bringing the total inventory to around 293,000. In 2025, the sector is expected to expand further with the delivery of nearly 32,000 additional units. Cairo's hospitality sector also saw significant growth in 2024, as government initiatives improved the tourism landscape, attracting a record 15.7 million visitors to the capital. The hospitality sector benefited from an increase in supply activity, with key hotel operators like Hilton, Accor, and IHG announcing expansion plans. Though only one new hotel was completed in 2024, nearly 2,000 additional hotel rooms are expected to be added to the market in the coming year. While Cairo's hotel occupancy rates dipped by 5.4 percentage points in 2024, the average daily rate (ADR) saw a slight uptick of 0.52%. The hospitality sector's growth is set to continue, with additional supply supporting the goal of attracting 18 million visitors in 2025. Cairo's office market remained stable in 2024, with a slight reduction in vacancy rates and a modest drop of 1.8% in average rents. In 2025, nearly five times as many office units are scheduled for completion. The demand for Grade A office spaces, particularly in business parks and mixed-use developments offering amenities like ample parking, is driving up prices due to limited supply in relation to demand. This demand, especially from corporate occupiers, is expected to fuel further growth in the office sector over the medium to long term, while the growth of the outsourcing market will also stimulate increased activity in this space. After a period of downturn, Cairo's retail sector began to show signs of recovery toward the end of 2024. Average rental rates in Q4 remained stable compared to the previous quarter, with the secondary market leading the charge, showing an annual increase of 14%. Primary regional and super-regional malls also saw moderate growth, with rental rates rising by 6%.
Zawya
07-03-2025
- Business
- Zawya
Rock Developments appoints JLL to manage Rock Capital 1
Rock Developments, the real estate arm of El Batal for Investment, has selected JLL to provide property management services for Rock Capital 1, the largest administrative landmark in Egypt's New Administrative Capital (NAC). This marks the second partnership between the two companies, following JLL's successful property management of Rock Gold Mall, New Cairo's first mall dedicated to gold and beauty. An agreement was signed by Eng. Bishoy Doss, Board Member of Rock Developments, and Ayman Sami, Country Head, Egypt at JLL, in the presence of senior management on 3 March 2025. Under this agreement, JLL will be responsible for managing the daily operations of Rock Capital 1, in addition to providing a range of integrated services. These services include overseeing third-party service providers for security, cleaning, maintenance, and marketing, ensuring an optimal environment that enhances productivity and fosters growth for both employees and business owners. In alignment with the company's strategy to provide exceptional services for Rock Capital 1 and its commercial and administrative projects, Eng. Bishoy Doss stated that this collaboration ensures the best possible experience for visitors and unit owners while maximizing their return on investment and enhancing the overall value of the company's commercial developments. Doss added that the agreement aims to develop and manage several commercial projects established by Rock Developments in strategic locations, with Rock Capital 1 as the primary focus. The project represents one of the company's largest investments, valued at EGP 3 billion. Doss also highlighted JLL Egypt's extensive expertise in managing commercial, residential, retail, and mixed-use developments and properties. He expressed Rock Developments' confidence that this collaboration will elevate service standards across its various projects and further establish them as attractive investment and business hubs. Ayman Sami, Country Head of JLL Egypt, said, 'We are excited to bring our expertise to Rock Developments, ensuring the success of its projects while enhancing the experience for both the client and investors/tenants.' Sami noted that Rock Developments' projects stand out for their distinctive features, making them highly attractive to businesses and customers alike. Rock Capital 1 is the largest administrative building in the Government District, located directly in front of the Presidential Palace in the NAC. The project aims to set a new benchmark for work, leisure, and living, offering a blend of luxury and efficiency in a modern environment. JLL operates in 35 countries throughout the Middle East and Africa (MEA), employing over 2,000 internationally qualified professionals across its offices in Dubai, Abu Dhabi, Riyadh, Jeddah, Al Khobar, Cairo, and Casablanca. For over 200 years, JLL has helped clients buy, build, occupy, manage, and invest in a variety of commercial, industrial, hotel, residential, and retail properties. Rock Developments boasts a 45-year track record and was among the first Egyptian developers to expand internationally, particularly in Canada. The company has delivered a series of high-profile projects across East and West Cairo, including Rock Eden in 6th of October City, Rock Ville in Obour City, Rock Vera in New Cairo, Rock Capital in the NAC, Rock White in New Heliopolis, and Rock Yard in Sheraton.
