By Febronia Hanna
Looking for a low risk and high return on investment, Egyptians are directing their money towards property investments. With Egypt’s tremendous increase in population, people are starting to think that the best idea at hand is investing in what people will need to buy later.
Two keywords to smart and successful investment; the first is “place” and the second is “time”. The right time to buy at the cheapest prices and to sell when there is the highest demand on your property. This is determined by the “place” where the property is located.
The better the future of the location the more the demand and therefore the higher the prices. Directing the money to the new administrative capital is something that is considered as a sound decision. This was calculated as the capital is where the government is investing the most and where all the administrative buildings will be relocated. This generates traffic and traffic means money.
As per the “time” aspect; now is the best time to do it as prices are expected to go higher unlike prices in Cairo. The moving of all governmental services is being finalized and they will all move to the New Capital next year, including the presidential house that will be relocated in June 2019. So we expect the purchase rush to start right after.
Another reason that the prices are going up is that demand on property is increasing in the New Capital. “There is a growing demand for the New Administrative Capital that will continue to rise in 2018,” Mohamad Banany, Senior Vice-President at Coldwell Banker said.
“For businesses looking to invest their money in a good location and ensure big returns, the New Administrative Capital is perfect; this is if one is buying and if the business is large-scale, says Mohamed Khaled, a commercial real estate consultant.