By Hamed Mahmoud
The market will witness during the second half of this year a boom and a great demand for various types of real estate units, despite expectations of new rises in prices of up to more than 10% during the next period as a result of the rise in the building materials, so forecasted Tarek Al-Geddawy, a real estate expert.
The market data and the increase in demand for purchase confirm that the real estate sector is still the best and safest investment, especially in light of the coronavirus crisis and its repercussions on the economy and in the New Administrative Capital in particular, especially with the closeness of government’s relocation to the New Capital.
Geddawy referred to a remarkable demand for investment in the Iconic Tower area of the New Capital; hence its attractiveness for investment locally and internationally.
“The major companies are racing to obtain plots for implementing investment towers in such an area, thanks to the wonderful design of the central towers area comparable to the major cities the world over and hence its importance as the main interface of the Administrative Capital,” Geddawy added.
With the impressive urban renaissance that has been achieved over the past five years and the creation of new cities east and west of Cairo, there are many attractive areas for purchase, especially with the establishment of a network of roads and bridges that have made these cities very close to each other, he said.
He added that the New Capital is still on top of these areas and has very strong attractions that make it acquires the lion’s share of the market’s sales volume, which exceeds 50%.