The Growing Interest In Modern and Luxurious Properties In Egypt

Tasneem Khalil 02 Nov 2023

Choosing a house isn’t a simple decision to make. It’s very important to choose the place that makes you feel at home. It’s not only about the location as other factors also affect the whole family life, their activity, wellbeing, social life, work, and education. Customers are no longer interested only in real estate projects as they’re interested in the concept and lifestyle behind them. Unlike living in an unsustainable and crowded neighborhood in Cairo, a gated community has an irresistible charm on those who can afford it. Now, the desire for better modern living makes Egypt's luxury real estate market in high demand. Therefore, developers observe the customer behavior and understand the need to offer safety, security and luxury. Now, the demand of the market is characterized by customers seeking new options for standards and styles of living.

The Egyptian government's economic reforms have helped stabilize the country's economy. This stability is attracting not only local investors but also international ones. Foreign investors are keen to explore opportunities in luxury projects, seeing them as secure and potentially high-yielding investments. These luxurious residential projects usually adopt a foreign names such as Westown, Eastown, Cattleya, Mountain View, Rock Vera, Trio Gardens, and Palm Hills.

Growth In Real Estate

As the government’s policies encourage and promote the construction of luxury housing, the private sector’s investing more in real estate projects of this kind. Developers are investing in well-developed infrastructure and facilities. Luxury properties often feature smart home systems, high-end finishing, and world-class amenities. These developments are setting new standards for quality living.

One of the factors that affect real estate growth is the growing population, with a current population of over 108 million people and a yearly increase of 2 million people and marriage rate of about 1 million people every year. This leads to a higher demand for new housing, making the real estate sector a profiting investment.

Real estate's performance is one of the best investment areas in Egypt. According to the Ministry of Planning and International Cooperation, property growth rates exceeded 15%. The top 25 developers made a revenue of EGP 250 billion in the first half of 2023. These top-selling developers include Talaat Moustafa Group (TMG), Ora Development, Palm Hills Development, City Edge, Tatweer Misr, Mountain View, LMD, Saudi Egyptian Developers, Emaar , SODIC Development, Orascom, Misr Italia Development, and Madinet Masr.

Popular Destinations

The factors for choosing housing locations stay ambiguous in the setting of Egyptian cities. Cairo being the capital means it also hosts most of the popular destinations for having a luxurious home. Neighborhoods like New Cairo, 6th of October City, and Sheikh Zayed City are becoming key destinations for high-end properties. The luxurious compounds in these areas offer spacious villas, elegant apartments, and a range of amenities, from golf courses to international schools.

There are about 34 luxury housing compounds in New Cairo alone. Seven of them are greater than 500 acres including Hyde Park and Emaar. In addition to 27 residential compounds ranging from 100 to 200 acres. This means that about 18% of the total city area consists of luxurious projects.

The North Coast is another growing area for luxury living. With its stunning clear sea and top-notch resorts, it's becoming increasingly popular among the middle and upper classes as well as international buyers.

The Red Sea, including destinations like Ain Sokhna, Sharm El Sheikh and Hurghada, offers luxury properties along its beautiful shoreline. Investors are developing gated communities, providing residents with private beaches and world-class diving and snorkeling opportunities.

Development of New Cities

Egypt’s vision 2030 affected development of the country’s landscape by establishing new cities across the country. These new cities represent a significant development in urban planning and aim to address the growing population and the need for sustainable, well-designed projects. Real estate development in these new cities has a strong focus on offering entertainment options for residents and visitors alike.

The New Administrative Capital is probably the most remarkable new city. With plans to serve as the country's administrative and financial hub, it has witnessed increasing real estate development. It features modern skyscrapers, government buildings, residential projects, and vast green spaces.

In regards to coastal cities, the New Alamein, is another major new city that has attracted significant real estate investment. It is located on the North Coast, with beautiful beachfront properties and luxurious resorts, making it a prime destination for those seeking a coastal lifestyle. The city has been designed to provide residents with modern amenities, stunning sea views, and a relaxed atmosphere.

Exceptional Services

The Egyptian government encourages modern and efficient real estate developments that aligns with its Vision 2030 plan. Residential real estate development has come a long way from merely constructing buildings with four walls and a roof. Nowadays, developers are providing multiple services and amenities that enhance the quality of life for residents and make their housing experience truly exceptional. Real estate developers continue to focus on digitalization and innovation in their projects. Here's a look at some of the modern services you can expect in real estate projects:

Smart Home Integration: One of the most looked-for features in modern residential developments is smart home technology. Developers are embedding home automation systems that allow residents to control lighting, heating, security, and even appliances from their smartphones. These systems not only offer convenience but also improve energy efficiency and security.
Security and Surveillance: Safety is a priority in any establishment. Developers are investing in security systems, including surveillance cameras, access control, and advanced alarm systems. Properties have 24/7 security personnel to provide residents and visitors with peace of mind.
Fitness and Wellness Facilities: Health and wellness are central to modern living. Residential compounds often include fitness centers, yoga studios, and wellness spas. These facilities encourage residents to maintain a healthy lifestyle without leaving the comfort of their community.
High-Speed Internet: Modern projects demand high-speed internet and connectivity. Real estate developers are partnering with internet service providers to offer high-speed connectivity.
Sustainable Landscaping: The past few years witnessed a growing public and media awareness of the role of sustainability. For example, a new ministry of State for Egyptian Environmental Affairs has been established and has focused on implementing initiatives within a context of sustainable development. Modern projects pay attention to outdoor spaces. Sustainable landscaping includes vast green areas, gardens, and even water bodies. Today's projects prioritize energy efficiency and sustainability. Green building practices, energy-efficient appliances, and the use of renewable energy sources are increasingly common for reduced carbon footprints, lower utility bills, and a healthier environment.
Community Spaces: Developers recognize the value of encouraging a sense of community. Common areas, such as community lounges, rooftop terraces, and shared gardens, provide spaces for residents to socialize and build relationships with their neighbors.
Childcare and Educational Facilities: Family-oriented developments may offer on-site childcare facilities and educational centers, making it convenient for parents to access quality care and early education services.
Other Services: Many luxurious developments offer services like package delivery, cleaning and maintenance services, dry cleaning, restaurant reservations, and even event planning, all to make life more convenient and enjoyable for residents.

In conclusion, modern real estate development goes beyond constructing buildings; it's about creating a lifestyle. Real estate developers are shaping properties that satisfy the needs and desires of today's residents.

If you are one of the luxury seekers, then you’d probably want to contact us on 01003366453 for a presentation on the current trending projects.