In 2004, the government began selling large plots of land alongthe urban core to developers. This spurred a development boomaround the cities and created new communities. To further drive themarket, the government is now working to restructure real estaterelated regulations to further attract investors anddevelopers.
The JLL report found that "despite the global economic turmoil,the underlying fundamentals of the Cairo real estate market haveremained largely intact during 2009." Executives believe the marketwill continue to grow in 2010 and beyond.
For example, the majority of class A space in the city is 100%leased and new supply is not expected to come online until 2013.These two factors will allow landlords to increase rental ratesdespite the global crisis.
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