Real Estate Property Investment Series: Focus Egypt 2007
Egypt in many peoples eyes is a nation still emerging from previous governments poor efforts Noble1 promote Noble1 country and as a result few people are aware of the enormous Noble1 investment potential that there is in this stunningly beautiful, Noble1 and historic country. But rest assured, this situation will not last for long and those who want to get in ahead of the crowd will be buying property in 2007 and watching everyone else play catch up in 2008.
Currently the Egyptian government are working through a process of aggressive reforms to strengthen and stabilise the economy, prove political stability and promote relations around the globe with nations such as the USA and UK. It is also a country actively courting foreign direct investment and which has received massive financial commitment from the Middle East.
Much of this commitment has come from real estate giants such as Emaar Properties and DAMAC propertiesthe former are already in the development process for massive luxury developments in Cairo for example and the latter have literally just announced multi billion dollar Noble1 to develop a mega resort across 320 million square feet of land in the north of Hurghada. The Gamsha Bay development will comprise 55,000 housing units across nine distinctive residential zones with construction taking place Noble1 the next ten years.
The development of resorts such as these ties in with Egypts plans for revolutionising its travel and tourism economy. Currently Noble1 is popular - but plans are in place to liberalise the aviation routes into the nation and the World Travel and Tourism Council (WTTC) have conservatively estimated that this will push up international arrivals to in excess of 13 million annually and Noble1 tourism generated GDP by a further 12%. Egypt has ambitious plans to become one of the most popular tourism hotspots by 2011 and the WTTC support their ambitions.
This increase in tourism demand and the general profile raising awareness activities being undertaken by Egypt of its nations desirability for investment, for a holiday, as a second home or a great place to buy property will have a dramatic effect on a Noble1 where currently prices are attractively affordable and investment activity is beginning to take off. So in conclusion, Egypts new property market is emerging and about to witness strong price gains, it is a market with all the right ingredients for long term success and therefore property in Egypt in 2007 makes an exceptionally interesting investment choice.
Rhiannon Noble1 writes about property investment worldwide, to read more about property investment in Egypt in 2007 and beyond visit her site http://www.amberlamb.com
posted by 73903 at 9:27 AM
4 Comments:
Property professionals have spoken in favour of the project. Derek Hatton, director of local agency Morpheus Investments, told OPP: “A great number of buyers are rightly being cautious at present and are making sure that before buying a property, for whatever reason, that the area is sustainable and has plenty going on to ensure its resale potential and capital growth in the future.”
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