egyptian tourism growth continues to boost property market
News Posted On: 26 April 2010
The strength of Egyptian tourism and its potential for growth have been testified to by Fly Dubai, the Dubai-based low cost carrier, which is to launch multiple new flights to Egypt from May. The airline will be flying thrice weekly flights to Luxor in Egypt from mid-May.
May will also see Egypt’s Alexandria become a hub for Air Arabia operations. The hub was due to open this month, but Air Arabia chief executive Adel Ali, announced the delay last week. 'We have yet to get final clearance to operate from Alexandria, and will not begin flights from the new hub this month as originally planned,' he said.
The Egyptian property market is shaping up as one of the hottest in the world. This is largely owing to the massive potential for tourism development, as well as the massive growth of the economy, which continued even during the financial crisis.
Private investors are favouring Hurghada, because it offers some of the lowest property prices in the world, against rapidly rising tourism in an area protected against over development. This gives way to massive rental yields, with many off plan developments offering yields of above 10% guaranteed.
Commercial investors outside the tourism industry are focussing on the major cities, where alongside the potential for massive growth in demand for industrial, retail and office-space, there are plentiful opportunities in the field of infrastructure development.
View Egyptian property for sale
Back to news articles for this country
Latest Related News Articles in Egypt
Political Reforms in Egypt Leading to Improved Investor Attitudes
2011-03-31
It's expected that the political reforms in Egypt should lead to the country being in a much stronge.....
Egypt Property Continues to Hot Up
2010-12-21
The story of one of the hottest emerging markets of the post-crash world continues to show positive .....
Egypt Property to be Boosted by New Mortgage Procedures
2010-12-14
Authorities are in the process of simplifying mortgage rules in order to make more mortgages availab.....
HSBC Egypt Launches Platinum Visa
2010-11-22
Launch of platinum visa in Egypt is testament to the country's rapid financial development.....
Egypt Property Second in JLL Investment Hotspots
2010-09-27
Jobes Lang La Salle have said that Egypt is second in the world in terms of investor confidence and .....
Egypt Property One to Watch in Booming Middle East
2010-07-27
The Middle East is very much a growth spot in terms of construction and property. Within that, Egypt.....
Egypt Property to be Best Performer in Region
2010-06-09
Credit Suisse has said that Egyptian property stocks will outperform those of other countries in the.....
Egyptian Tourism Growth Continues to Boost Property Market
2010-04-26
Several developments in accessibility testify to the massive potential for growth in Egyptian touris.....
Air Arabia Testifies to Egyptian Tourist Growth Potential
2010-03-23
The creation of a new Egyptian hub by Middle Eastern low cost carrier Air Arabia is a testament to t.....
Egypt to be Property Investment Hotspot for Foreseeable
2010-03-03
For a number of reasons Egypt property is becoming the perfect investment package......