Egypt real estate market needs 900,000 units annually

The Egyptian real estate market has witnessed an overall growth in rent average of commercial projects by 6% during fiscal year 2014/2015.

During the session on real estate supply and demand structure at Cityscape's Egypt Real Estate Summit, Mansour stated that Egypt is in want of implementing 20,000 hotel rooms by 2020.

He added that studies show that the demand on housing units in 6th of October city, Mohandessin and Heliopolis is expected to increase.

In 2014, The overall number of offered housing units has exceeded 5.2 million.