The Middle East sovereign wealth funds have plans to inject up to $120 billion into Egypt, thus indicating their strong confidence in the country's market growth, according to Knight Frank MENA, a global real estate consultancy.

Amidst the post-pandemic landscape, a revitalised global interest in Africa has emerged, underscored by significant investment commitments from major players, stated Knight Frank Mena in its 'Africa Horizons 2023/24 Report', a comprehensive analysis showcasing Africa’s remarkable post-pandemic recovery.

The report spotlights Egypt’s real estate market, particularly Cairo, as an outstanding prospect for investment.

The vibrant city of Cairo alone is home to over 20 million people, making it a bustling metropolis. The country’s impressive portfolio of approximately 2bn square feet of active real estate, offers immense potential for growth.

With a focus on Egypt, this report reveals a renewed surge in global interest in the continent, thanks to substantial investment commitments from major global powers including the US, UK, South Korea, UAE, Saudi Arabia, Turkey, and China.

The UK’s $2 billion commitment to sustainable projects spanning the continent, alongside engagements from other global powers, highlights the renewed allure of key hub cities such as Lagos, Nairobi, Cairo, Johannesburg, and Accra, it stated.

Recently added to Knight Frank’s Africa network, Egypt’s market shines as North Africa’s rising star. Middle East sovereign wealth funds have plans to inject up to $120bn investment in the country, indicating their strong confidence in Egypt’s market growth.

Zeinab Adel, Head of Egypt Office of Knight Frank, said: "With a population exceeding 109.3 million, Egypt stands as an alluring prospect that beckons us. In the heart of this historic land lies an extraordinary opportunity, one that resonates strongly with the GCC market and Middle Eastern buyers alike."

"Egypt’s magnetic blend of rich heritage, strategic geographical location, and burgeoning economy propels it to the forefront of investment destinations," he added.

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