Egypt:- Knight Frank, the leading global property consultancy, announced the launch of its first office in Egypt, located at the heart of Cairo in Zamalek, marking the intersection between the Capital’s expanding East and West urbanizations. The launch is Knight Frank's first foray into Egypt’s dynamic real estate market, bringing its extensive expertise to this exciting and growing market. This significant milestone is testament to the Firm’s commitment to bringing global expertise to serve the local real estate market, providing a world-class portfolio of real estate consultancy including strategic consultancy, marketing, commercial and residential property sales and leasing, property management, and valuations.

Fueled by rapid urbanization, a burgeoning population and a surge in foreign investment – the Egypt real estate market is currently at its peak. Contributing approximately 16% to the nation's GDP and poised for further growth, the property sector presents a wealth of opportunities in both residential and commercial domains.

Knight Frank’s team in Egypt is led by seasoned industry shapers who have been an integral part of the local real estate sector’s development. Zeinab Adel is a real estate investment professional with an extensive roster of consulting developers and with a track record of successfully establishing strategies for major real estate management firms. As part of the new Cairo office management team, she will be joined by Tamer Elfiky, Partner - Head of Operations, Egypt, a real estate veteran with extensive experience in business development and marketing.

Zeinab Adel, Partner - Head of Egypt Office said: “Spearheading the progress, Egypt’s government is committed to further growing the local real estate market by providing housing opportunities for different socioeconomic segments and increasing the confidence of regional investors in the market.”

Commenting on the new office, James Lewis, Knight Frank's Middle East Managing Director, said:" I am excited the Middle East region is expanding into North Africa and connecting further into our wider Africa network. This extension has come at the request of our clients who would like our integrated service offering to be available in this growing and dynamic gateway market.”

Adel and Elfiky have a deep understanding of the Egyptian real estate market and will work closely with clients to provide bespoke solutions to their real estate needs, drawing on Knight Frank's global network of experts and its reputation for excellence in real estate services.

Known for its exceptional track record and commitment to excellence, Knight Frank has forged strong relationships with a distinguished list of global clients, including Emaar, Aldar, Google, Barclays, HSBC, Panasonic, Samsung, Unilever, DHL. Such prestigious partnerships have enabled the firm to effectively navigate the dynamic and ever-evolving luxury real estate market, consistently delivering innovative solutions and remarkable results for their clientele.

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About Knight Frank:

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 487 offices across 53 territories and more than 20,000 people The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.

In the MENA region, we have strategically positioned offices in key countries such as the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Egypt. For the past 13 years, we have been offering integrated residential and commercial real estate services, including transactional support, consultancy, and management.

Understanding the unique intricacies of local markets is at the core of what we do, we blend this understanding with our global resources to provide you with tailored solutions that meet your specific needs. At Knight Frank, excellence, innovation, and a genuine focus on our clients drive everything we do. We are not just consultants; we are trusted partners in property ready to support you on your real estate journey, no matter the scale of your endeavour.

Let's connect socially - find us on LinkedIn, Instagram, and Twitter. For more information and to explore how we can be your partners in property, please visit our website at https://www.knightfrank.com/egypt

For all Media and PR inquiries, please contact:
Roksar Kamal, Press Manager
Roksar.kamal@me.knightfrank.com

Egypt's integration into Knight Frank's Africa Network (add report link) signifies a promising chapter for real estate. With a population of over 110 million and a dynamic city like Cairo with 20 million residents, Egypt offers a thriving market. With around 185 million sqm of active real estate and a massive US$ 120 billion potential investment from Middle East Sovereign Wealth Funds, the country is poised for significant growth.

Market dynamics have led to innovative approaches from developers, such as semi-finished projects and shorter payment plans to align with evolving demands. This adaptability, coupled with the appealing prospects of the second homes market, underscores Egypt's resilience. Summer homes along the North Coast remain a beacon of optimism, with strong capital appreciation potential, attractive rental yields, and growing interest from GCC buyers.

In 2022, Cairo received US$ 20 billion in real estate investments, with US$ 16 billion dedicated to residential developments. A remarkable 10% surge in average residential property prices demonstrates robust demand and investor confidence. The recent legislative changes enabling foreign ownership of real estate have triggered increased interest from international buyers and expatriates seeking competitively priced properties.

In essence, Egypt's collaboration with Knight Frank's Africa Network brings forward a vibrant real estate landscape ripe with opportunities. The residential and second homes markets stand as beacons of growth, igniting optimism and setting the stage for a promising future.
 

To view the full report: https://www.knightfrank.com/research/report-library/africa-horizons-202324-10427.aspx