JLL’s Ayman Sami tells us about hospitality and market sentiment

JLL Egypt is widening its advisory footprint as Egypt’s real estate market navigates a correction phase, a growing hospitality sector, and a more sophisticated investor base. We spoke with Ayman Sami, Country Head of JLL Egypt, at the EnterpriseAM Egypt forum to talk about the asset classes he believes offer the strongest opportunities today, and his expectations for exchange rates, interest rates, and industry sentiment heading into 2026.

EnterpriseAM: So, what’s new with JLL?

AS: There’s always something new with JLL. We enjoy dealing with new clients and new projects, and we’re constantly looking at ways to enhance our clients’ capabilities and add value to their work. Technology is also a major focus for us. We’ve acquired several startups in Silicon Valley and globally to strengthen our technology platforms, because without technology it’s very hard to remain competitive, grow, and support our clients.

E: What are the most promising sectors you see today?

AS: We follow market trends and have specialists across various disciplines. Globally, we’ve added life sciences to our portfolio as it has become an important sector, and we’re also expanding into industrial and logistics alongside the standard asset classes we’ve always worked on.

E: On a personal level, which asset class do you prefer to invest in today — gold, real estate, equities?

AS: It’s quite cyclical, but residential is the easiest for people to access due to how familiar it is. It’s widely discussed, widely transacted, and the majority of real estate players in Egypt sell residential units. Others focus on offices or retail, but the level of understanding of those assets isn’t the same as residential. Personally, I prefer larger property investments, though they’re not accessible to everyone. Hospitality, for example, is doing very well. Since Covid and through recent macroeconomic and political challenges, the hospitality sector has shown strong growth — around 15% in average daily rates and 20% in revenue per available room.

E: What are your expectations for the USD–EGP exchange rate in 2026?

AS: We don’t expect major fluctuations. Many analysts have set expectations around EGP 55 per USD. But with a large influx of capital and the economy stabilizing, there are many different views circulating.

E: Interest rates also play a significant role in the real estate sector. What are your expectations for 2026?

AS: The more they drop, the more people invest. At the moment rates are still high, so we hope to see further declines.

E: Has AI had any impact on your hiring plans at JLL?

AS: AI is an important aspect of our business and we’ve integrated it within JLL. It hasn’t affected hiring plans, but it has improved the speed and quality of delivery. Hiring globally has already been subdued due to macroeconomic pressures — not only locally, but worldwide.

E: How do you see your industry performing in 2026 — pessimistic, optimistic, or neutral?

AS: I’m very optimistic. With higher GDP growth and lower interest rates, we expect 2026 to be a stronger year than 2025.