Ayman Amer, General Manager of SODIC, said Egypt is following a trajectory similar to India’s transformation over the past two decades, positioning itself to become a major global hub within the next 10 to 15 years.
Speaking at AmCham Egypt’s Annual Real Estate Conference, “Egypt Rising: Real Estate as a Regional Powerhouse,” Amer compared Egypt’s current stage of development to India’s position 20 years ago. While China once dominated global growth narratives, he noted, India’s rise was fueled by population scale, human capital, and increasing institutional professionalism—factors Egypt is now beginning to share.
Amer highlighted information technology and entrepreneurship as key growth engines, describing Egypt as rapidly emerging as a regional hub for IT and digital innovation, supported by a deep and diversified talent pool spanning engineering, healthcare, and education.
Tourism, he added, remains a cornerstone of Egypt’s long-term growth. The country currently generates around $15 billion annually from tourism—well below global peers such as the UAE ($70 billion) and Spain (nearly $129 billion). However, Egypt’s unique historical assets, combined with new landmarks such as the Grand Egyptian Museum, are helping reposition the country on the global tourism map and unlock significant untapped potential.
On investment strategy, Amer argued that real estate offers stronger fundamentals than traditional safe-haven assets such as gold or silver, particularly for institutional and high-net-worth investors.
“Large pools of capital require large, tangible assets,” he said, noting that real estate uniquely meets this requirement while remaining relatively liquid, with a medium-term investment horizon of five to seven years.
Credibility and execution, he added, are essential to attracting regional capital. Developers who consistently deliver projects on time and to specification are strengthening Egypt’s standing among investors from Saudi Arabia, the UAE, and beyond.
Foreign Investment and Market Fundamentals
Hazem Helal, Chief Executive Officer of Owest, Makadi Heights, and Byoum, said Egypt’s real estate sector continues to attract direct foreign investment, supported by strong capital inflows from the UAE, Saudi Arabia, and Qatar.
He noted that foreign currency inflows are increasingly reinforced by Egyptians’ remittances from abroad, which now exceed revenues from both the Suez Canal and tourism—enhancing the sector’s resilience amid global economic uncertainty.
Tourism continues to underpin real estate demand, Helal added, pointing out that Egypt welcomed a record 15 million tourists in 2024, with the sector contributing more than $15 billion to GDP. This growth has directly benefited hospitality-led and mixed-use developments, particularly in coastal destinations.
Helal said real estate development is increasingly shifting away from congested city centers toward emerging and peripheral areas, driven by demand for integrated communities that combine residential, healthcare, education, entertainment, and commercial services.
While acknowledging that property prices rose sharply in recent years, he said the market entered a correction phase in 2025, with more optimistic expectations emerging for 2026, supported by improving economic indicators and more balanced pricing strategies.
Amer rejected claims that Egypt’s real estate prices are inflated, arguing that valuations should be assessed in U.S. dollars rather than local currency. Premium residential prices in Egypt average around $1,000 per square meter, compared to $6,000–$7,000 in GCC markets and $10,000 or more in Europe.
“These figures show Egypt offers premium real estate at roughly 30% of European prices and at half—or less—of GCC levels,” he said.
Nearly 70% of SODIC’s portfolio is classified as ultra-luxury, Amer added, with demand remaining strong from a well-traveled, globally benchmarked customer base.