| 15 December - Egypt (Cairo) |
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James Whitmee I am in Cairo looking at the real estate markets. The market in terms of transactions has stalled particularly as it relates to foreign investors, although there is some local activity. Whilst I have mainly been focusing on the edge-of-town market, and particularly New Cairo and Heliopolis, I spent part of yesterday in the Downtown area. On the east bank overlooking the Nile there is a major new retail and high-end development by Qatari Diar called One Nile Avenue. They are currently at 8th Floor level, but what I think is most interesting is that they started the development post the revolution, which suggests that this developer is confident of the market taking off again.
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