Egypt continues to attract property investors

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EGYPT CONTINUES TO ATTRACT PROPERTY INVESTORS

Thursday, 25 Dec 2008

Accommodation in Egypt remains favourably priced, despite its popularity as a tourist destination. The government has actively promoted property in Egypt to overseas investors, and has liberalised its laws accordingly to enable foreigners to own property there. There are now many options available to those seeking second homes in Egypt and to those wishing to invest in the emirate.

There is a variety of different types of property in Egypt available, with several main areas being the most popular. Cairo city itself is the main economic centre of the country, and as such it is home to unique developments such as Dreamland, just south of the city proper. This area provides a choice of amenities such as schools, golf courses and other leisure facilities, and has the advantage of being close to the country’s capital.

The North Red Sea coast is home to some ambitious plans, with talk of an underwater city, and is a haven for sports fanatics as well as leisure tourists. The privately owned town of El Gouna is being promoted as the “Venice of Egypt”, and is famous for its 10km–long unspoilt beachfront. For seekers of investment property in Egypt, there are over 300 private villas, luxury marina developments and more than 15 hotels.

One of the most popular regions remains the Sharm El Sheikh, further down the Red Sea coast. Known for its watersports and celebrity chic, Sharm El Sheikh has its own international airport, giving easy access to some of the most well-established holiday property in Egypt. Even the Mediterranean coast between the historical cities of Alexandria and El Alamein has been developed over the last few years and is often called the Egyptian Cote d’Azur. Many new developments have been planned at Ghazala Bay, and this region remains a favourite with property investors.

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