Domestic Investors Pour Money Into Egypt’s Property Market

The Mamdouh family regularly takes trips around Greater Cairo in search of residential property to buy. In recent years, they have snapped up two apartments and they are now building a villa.

“I have not seen a property in Egypt that declined in price in at least 26 years,” said 65-year-old Kawthar Mamdouh.

The Mamdouhs, like many other Egyptian families, believe property is their safest investment option and their interest has helped fuel a miniboom in the country of more than 90 million with housing prices steadily rising in recent years.

Egypt’s flourishing real-estate market stands in contrast with the North African country’s battered economy, which has been struggling since an uprising ousted long-serving President Hosni Mubarak in 2011.