Market Size of Egypt Condominiums and Apartments Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 11.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Egypt Condominiums & Apartments Market Analysis
The size of the Egypt Condominiums and Apartments Market is USD 8.16 billion in the current year and is anticipated to register a CAGR of over 11% during the forecast period. The market is driven by the growing housing demand. Furthermore, the market is driven by government initiatives in the housing sector.
- The COVID-19 pandemic put pressure on the residential sector in the country, further resulting in slow sales due to restrictions. However, in 2021, the condominiums and apartments sales recovered and witnessed significant growth, driven by largescale city constructions in the country.
- The country's population is increasing, growing by 2.5 million people each year, resulting in rising demand for the housing sector. In addition, the government is taking various measures to meet the growing demand, such as the commencement of many mega-projects to encourage economic growth, including the enlargement of the Suez Canal and the creation of a new capital city (New Administrative Capital, New Alamein city, etc.).
- According to the Housing and Urban Communities Minister, to meet growing housing needs, the country needs to build at least 600,000 new houses every year to suppress the supply shortages. In addition, the government has invested more than USD 44 billion in housing projects for a decade.
- Moreover, in FY 2021, as per the Central Agency for Public Mobilization and Statistics (CAPMAS), the total number of housing units amounted to more than 316,027. The public and private sectors constructed 146,229 units and 169,798 units, respectively. Thus, the growing need for housing is expected to boost the condominiums and apartment projects in the country.
Egypt Condominiums & Apartments Industry Segmentation
Apartments are an internal part of a residential society and are owned by one entity or single management. In contrast, condominiums are owned by a single owner, also known as a landlord, who owns and manages the property. A complete background analysis of the South Africa Residential Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.
The Egypt Condominiums and Apartments Market is segmented By Key Cities (Cairo, Luxor, Aswan, Alexandria, and Hurghada). The report offers the market size and forecasts in values (USD billion) for all the above segments.
| By Key Cities | |
| Cairo | |
| Luxor | |
| Aswan | |
| Alexandria | |
| Hurghada |
Egypt Condominiums and Apartments Market Size Summary
The Egyptian condominiums and apartments market is experiencing robust growth, driven by increasing housing demand and supportive government initiatives. The market has rebounded from the challenges posed by the COVID-19 pandemic, with significant recovery observed in 2021 due to extensive city construction projects. The rapid population growth in Egypt is a key factor fueling the demand for housing, prompting the government to undertake large-scale projects such as the expansion of the Suez Canal and the development of new cities like the New Administrative Capital and New Alamein city. These efforts are aimed at addressing the housing supply shortages, with substantial investments directed towards constructing new residential units to meet the needs of the growing population.
The market is characterized by significant investments in apartment construction, with both public and private sectors contributing to the development of new housing units. The New Administrative Capital, in particular, is a focal point for residential construction, attracting substantial investments from various developers. The real estate sector in Egypt is also gaining interest from foreign investors, who view it as a cost-effective destination with promising opportunities due to ongoing infrastructure developments. Despite the high starting prices of residential units in some areas, the market remains fragmented, with major players like ERG Developments, ORA Developments, Newgiza, and La Vista Developments leading the charge. These companies leverage their financial resources and expertise to navigate the competitive landscape, while smaller firms focus on building local market knowledge to compete effectively.
Egypt Condominiums and Apartments Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Insights on Socioeconomic and Demographic Factors
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1.3 Market Dynamics
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1.3.1 Drivers
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1.3.2 Restraints
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1.3.3 Opportunities
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1.4 Porter's Five Forces Analysis
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1.5 Supply Chain/Value Chain Analysis
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1.6 Government Regulations and Initiatives
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1.7 Insights into Size of Real Estate Lending and Loan to Value Trends
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1.8 Insights into Affordable Housing Support Provided by the Government and Public-Private Partnerships
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1.9 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Key Cities
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2.1.1 Cairo
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2.1.2 Luxor
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2.1.3 Aswan
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2.1.4 Alexandria
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2.1.5 Hurghada
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Egypt Condominiums and Apartments Market Size FAQs
What is the current Egypt Condominiums and Apartments Market size?
The Egypt Condominiums and Apartments Market is projected to register a CAGR of greater than 11% during the forecast period (2024-2029)
Who are the key players in Egypt Condominiums and Apartments Market?
ERG Developments, ORA Developments, NEWGIZA, LA VISTA DEVELOPMENTS and Coldwell Banker Egypt are the major companies operating in the Egypt Condominiums and Apartments Market.
