Savills, the global real estate firm, has produced a research on the Greater Cairo real estate market, which includes an analysis of the residential and office sectors.

“On the occasion of our third year in Egypt, the study will be the first of many, as the industry continues to evolve,” Savills Egypt branch president Catesby Langer-Paget said during a press conference announcing the research.

Egypt's economic expansion will decelerate to around 4.5 percent between 2021 and 2022, according to Langer Paget, but by 2023, GDP growth would likely rebound to pre-pandemic levels of above 5.5 percent.

"We can largely note the impact of Egypt's economic expansion on the real estate market, as the market maintains its position and is considered an attractive investment," he added. "It should also be noted that low interest rates position real estate assets as a safe haven for investments across the country, resulting in increased demand."

The market is seeing consistent and even increasing demand, according to Sherine Badr El-Din, Chief Operating Officer, particularly in the Cairo housing market, where the present housing stock is 7.1 million units.