Egyptian real estate set for strong growth

Loans-to-deposits ratio, low mortgage penetration and balanced exports make investment in Egyptian real estate sector a safe bet, said experts at a conference.

Mohamed Abdalla, President of Coldwell Banker Intercontinental Affiliates and Chairman of the Real Estate Committee at the Chamber, said Egyptian real estate is in a strong position in the face of the global economic crisis.

According to him, tight measures in place by the government, which experienced a banking crisis at the beginning of the century, coupled with low mortgage penetration and a healthy exports-to-GDP ratio mean that Egyptian real estate will continue to see strong growth.

"The country cannot suffer the full effects of the economic crisis if the causes of this crisis do not exist within the local economy. Loans-to-deposits ratios stand at 55 per cent compared to 150 per cent in some developed countries," he said.