Arabesque Development plans to launch two new projects in the coming period.
Dr. Abdel Hamid El-Wazir, Chairman of the Board of Directors of Arabesque Real Estate Development Company, confirmed that the company is preparing to launch two new projects in the coming period. The first is a mixed-use development encompassing commercial, administrative, and medical facilities, while the second is a residential project aimed at meeting the growing demand for real estate units across various market segments.
He explained that the Egyptian real estate market is poised for a new wave of price increases in the near future, anticipating a rise in property prices of at least 20%. This increase is driven by rising construction and development costs, coupled with continued strong demand for real estate projects, given that real estate is considered one of the most important and secure investment and savings vehicles in the Egyptian market.
He pointed out that the real estate sector is currently witnessing a significant surge in demand, particularly in the coastal market, which has become a focus for a wide range of clients both within Egypt and abroad. This is fueled by the growing interest in tourism and residential projects on the North Coast and other coastal areas, supported by infrastructure development and the government's expansion in the construction of new cities.
He added that the Egyptian real estate market is poised to attract more foreign investment in the coming period, benefiting from the economic and political stability the country is experiencing, which enhances investor confidence and supports urban expansion and sustainable development plans throughout the republic.