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Wednesday, 8 Oct 2025

What We’re Tracking Today
Economy
Economy
Automotive
Cabinet Watch
Last Night’s Talk Shows
Egypt In The News
Also On Our Radar
Planet Finance
Hardhat
Calendar

It’s a wrap on the 2025 EnterpriseAM Egypt Forum

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Today at a glance

1

WHAT WE’RE TRACKING TODAY

It’s a wrap on another successful EnterpriseAM Egypt Forum.
2

ECONOMY

Egyptian delegation to head to Washington next week for IMF loan talks.
3

ECONOMY

World Bank bumps up Egypt’s growth forecast for FY 2025-26 to 4.3%.
4

WHAT WE’RE TRACKING TODAY

Gaza peace talks continue in Sharm El Sheikh.
5

WHAT WE’RE TRACKING TODAY

Our World Cup dream awaits tonight.
6

Automotive

Auto sales rebound in August, breaking 17k mark for first time since 2022.
7

Cabinet watch

Cabinet sends new competition protection bill to parliament.
8

LAST NIGHT’S TALK SHOWS

Bassem Youssef makes his return to Egyptian TV.
9

PLANET FINANCE

Emerging market rally hits 15-year high as weaker USD fuels global shift.
10

HARDHAT

International investors are increasingly eyeing Egypt’s property sector, but each nationality has their own preferences.

Wednesday, 8 Oct 2025

What We’re Tracking Today
Economy
Economy
Automotive
Cabinet Watch
Last Night’s Talk Shows
Egypt In The News
Also On Our Radar
Planet Finance
Hardhat
Calendar
1

WHAT WE’RE TRACKING TODAY

It’s a wrap on the 2025 EnterpriseAM Egypt Forum

Good morning, friends. We couldn’t be happier this morning after meeting so many of you at our successful forum yesterday. We wrapped up another blockbuster EnterpriseAM Egypt forum, where we were honored by the presence of 650 policy makers, senior bankers, finance industry players, corporate leaders, and other members of our business community.

We interviewed on stage Dr Rania Al Mashat, minister of planning, economic development and international cooperation, and Hassan El Khatib, the nation’s minister of investment and foreign trade, in two keynote interviews. We also talked to business leaders about the future of work, how AI and tech are shaping the world around us, what resilient businesses are doing today to set themselves up for success tomorrow, and lots more.

A BIG THANK YOU, from the bottom of our hearts to to all of our speakers, for joining us on stage, to the more than 650 senior members of our community in the audience — and the sponsors and partners who made it all possible.

Keep an eye out for our comprehensive coverage of the forum in a new special series, coming to your inboxes in the coming weeks.

** A QUICK PROGRAMMING NOTE- EnterpriseAM Egypt will join the rest of the country in taking tomorrow off in observance of Armed Forces Day. We’ll be back in your inboxes at the usual hour on Sunday with everything you may have missed over the long weekend.

PSA-

Attention startups: Endeavor Egypt’s upcoming Xcelerise 2.0 scale-up program is accepting applications. The GIZ-supported program is open to tech-enabled startups at a pre-series A stage with at least USD 250k raised from accredited investors and revenues between USD 250k-500k. The lucky 20 chosen startups will receive mentorship, expert-led masterclasses, and invaluable networking sessions.

WEATHER- Hot weather awaits us in Cairo today, with a high of 31°C and a low of 21°C, according to our favorite weather app.

But it’s cooler in Alexandria, with a high of 27°C and a low of 21°C.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

WATCH THIS SPACE-

#1- The state is working to include the last of its 59 economic bodies in the general government budget, a government source told EnterpriseAM. The Madbouly government will incorporate the remaining 19 agencies and administrative bodies in time for the new fiscal year starting in July, we were told. The government had initially been planning to include the remaining economic bodies in the unified budget within a much longer five-year period.

REMEMBER- The government amended the Unified Budget Act last year to allow for the budgets of all 59 of the state’s economic bodies and the state budget to be presented in the general government budget — a consolidated budget to help improve the state’s financial indicators by accounting for the entirety of the state’s revenues. This year’s general government budget includes the budgets of 40 different entities.

#2- QNB gets greenlight to launch EZBank: QNB Group has obtained approval from the Central Bank of Egypt to establish the new digital bank EZBank, QNA reports citing a statement from the bank.

HAPPENING TODAY-

The Pharaohs could secure qualification for the FIFA World Cup for the fourth time in their history tonight when they face Djibouti at 7pm in Casablanca in the penultimate round of the qualifiers for the 2026 FIFA World Cup. Egypt — currently tops Group A with 20 points — could book its World Cup spot with a victory against Djibouti, or if second-placed Burkina Faso (15 points) drops any points in its match against Sierra Leone.One final qualifying round will remain, with Egypt set to face Guinea-Bissau at Cairo International Stadium on Monday, 13 October.

DATA POINT-

Egypt’s fuel import bill rose USD 4 bn y-o-y to USD 15 bn in 9M 2025, driven by higher import volumes, Al Arabiya reports, citing an unnamed government official.

THE BIG STORY ABROAD-

It’s a mixed bag of news in the international business press this morning, with more noise — and concerns — around the future of AI and surging investments in the sector, as well as updates on trade and tariffs, and the final push for a ceasefire between Gaza and Israel in Egypt.

#1- Concerns mount over the risks of an AI bubble amid spending spree from OpenAI, Nvidia: The bns of USD invested in AI so far, marked by OpenAI topping USD 1 tn in commitments and Nvidia’s spending spree, are based on a “circular,” “interconnected” web of business transactions involving only a handful of firms that cast doubt over the sector and its ability to sustain itself, Bloomberg writes in this morning’s big read. Meanwhile, the Financial Times similarly spotlights OpenAI’s recent transactions, including ones with Oracle, AMD, and Nvidia, highlighting the “fake it till you make it” ethos that has powered the sector so far, and that could blow up if OpenAI isn’t able to honor its funding commitments.

#2- Over in the world of trade, the EU is proposing a 50% tariff on steel imports to match the US’ tariff, but it could hit the UK — the biggest importer of European steel — the hardest. Meanwhile, the World Trade Organization has slashed its growth forecast for global trade next year to 0.5%, down significantly from 1.8% earlier, as the impacts of Trump's tariffs filter through. (Politico | Guardian | BBC)

ALSO GETTING ATTENTION- Tesla launched new affordable models, including a cheaper model Y SUV and sedan, as it looks to revive sales and counter the effects of rising competition in Europe and China. (Reuters | Financial Times | Bloomberg)

AT HOME- Officials from Israel, Qatar, and the US, including US special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner, are heading to Egypt for the Israel-Hamas peace talks, which are now on their third day. Trump says there’s a “real chance” for an agreement, as officials say the focus is on reaching an agreement on the ceasefire and hostage release, but sticking points around the governance of Gaza and the complete disarmament of Hamas — all part of a later phase — have yet to be addressed. (Bloomberg | Guardian)

A US delegation led by special envoy Steve Witkoff arrived in Egypt to bolster President Donald Trump’s involvement in the renewed indirect negotiations between Israel and Hamas taking place in Sharm El Sheikh, Ahram Online reports. The talks aim to secure a ceasefire, a hostage-prisoner exchange, and a phased Israeli withdrawal from Gaza. Egyptian Foreign Minister Badr Abdelatty said the discussions are focused on implementing the first phase of Trump’s 20-point plan, which includes “full and unconditional” humanitarian access to Gaza and the redeployment of Israeli forces. Trump, who said there is a “real chance” for a deal, has urged both sides to move quickly, while Netanyahu said the talks would last only a few days, according to the Guardian.

Hamas spokesperson Fawzi Barhoum said the group seeks a “fair hostage exchange” and a permanent ceasefire tied to the complete withdrawal of Israeli troops, the unconditional entry of aid, and the start of reconstruction under Palestinian supervision, Bloomberg reports. He warned against Israeli attempts to obstruct progress, accusing Israel of failing to achieve its war aims. Despite cautious optimism, major issues remain unresolved — including Hamas’s disarmament, Gaza’s postwar governance, and the sequencing of withdrawals and exchanges. Egypt continues to play a central mediating role, with Abdelatty emphasizing that there is “no military solution” to the conflict and calling for renewed commitment to a two-state solution

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: EnterpriseAM’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.

In today’s issue: A survey of foreign high-net-worth individuals shows variances in the pull factors for Egypt’s real estate market among both nationalities and income wealth brackets. We dissect these wildly varying priorities and how they translate into different investment decisions.

Tags:

As the Sahel summer winds down, the Red Sea is just getting started. Say hello to Somabay, a year-round seaside escape where tranquil waters, world-class diving, kitesurfing, golf, and wellness come together in one breathtaking destination. This September, it also hosts the ITF World Tennis Tour, bringing world-class tennis to the coast. Somabay is the perfect next stop, a place where the season never ends, and every day feels like the first day of summer.

2

ECONOMY

Egyptian delegation heads to Washington next week for IMF loan talks

An Egyptian delegation is set to land in Washington next week to discuss the combined fifth and sixth reviews of our USD 8 bn Extended Fund Facility program with the International Monetary Fund (IMF), a senior government official told EnterpriseAM. The delegation will discuss outstanding issues in the program throughout the week, coinciding with the IMF / World Bank annual meetings from 13-18 October in DC, we were told.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Discussions between our delegation and the fund are expected to focus on the progress — or lack thereof — made on the state privatization program and growing the private sector’s contribution in the economy, which our source highlighted as two key priorities for the IMF. Fund officials have previously stressed these two points, presenting the move as essential to creating a flexible and dynamic private sector buffer to help the economy fare in future geopolitical shocks and economic challenges.

Positive economic indicators aren’t the only thing the fund wants to see, as the lender needs to ensure that Egypt is on a sustainable and irreversible path of structural economic reforms to lock in gains made so far, our source told us.

But despite the fund’s insistence on the end goal, they’re signaling that they are flexible on timelines — at least to a certain extent. IMF Managing Director Kristalina Georgieva said last week that they are open to Egypt postponing its privatization efforts to 2026, explaining that “we are not fixated on superficial targets, we are committed to the direction of travel.”

Giving the delegation a boost in negotiations may be soon-to-be-announced EGX listing incentives to support the government’s privatization-via-IPO push, which a senior government official told EnterpriseAM this week will be announced “within days.” This next phase of privatization will kick off with a company affiliated with the military’s National Service Projects Organization hitting the EGX soon, the source said.

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3

ECONOMY

World Bank bumps up Egypt’s growth forecast for FY 2025-26 to 4.3%

The World Bank revised Egypt’s growth forecast for FY 2025-2026 to 4.3% y-o-y, marking a modest increase of 0.1 percentage points from its previous forecast in June, the international financial organization said in its latest Middle East, North Africa, Afghanistan, and Pakistan (MENAAP) Economic Update report (pdf).

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Despite the upgrade, the World Bank is still less optimistic than most about our growth prospects, with Fitch Solutions’ research unit BMI expecting the economy to grow 4.7% this fiscal year, the Madbouly government forecasting 4.5% growth, and the European Bank of Reconstruction and Development penciling in 4.4% for the fiscal year. But the World Bank is more optimistic than the IMF, which expects GDP to reach 4.1% in the 12-month period.

But the real good news is for our FY 2024-25 performance, in which the bank raised its GDP reading 0.7 percentage points from its previous projection to 4.5% y-o-y. The bank’s newest assessment for the fiscal year that ended in June puts growth as having increased 2.1 percentage points between FY 2023-24 and FY 2024-25.

The international lender attributed its upward revision to stronger-than-predicted growth in 1Q 2025, which hit 4.8%, boosted by favorable base effects as well as “renewed external support and the early fruits of macroeconomic reforms,” according to the report. The bank also highlighted the float of the EGP, fiscal discipline, and public investment caps, along with subsidy reform as key components of these reforms and pointed to increases in exports, private consumption, and private investment as helping drive the headline figure up.

The bank also raised its growth forecast for the next fiscal year by 0.2 percentage points from previous expectations and now projects growth reaching 4.8% y-o-y.

Although forecasts are up, the road ahead is still challenging, with the report noting that the war on Gaza had significant spillovers on Egypt, including gas import disruptions, a dip in tourism flows, and Red Sea disruptions that resulted in USD 11 bn of foregone Suez Canal revenues between December 2023 and July 2025. The World Bank also points to the nearly tripling of the country’s refugee and asylum seeker population between 2022 and 2024.

The bank is also expecting inflation to stay elevated, forecasting 14.6% y-o-y for the current fiscal year, despite dropping for the third straight month in August to 12.0% y-o-y. The central bank and most analysts we’ve spoken to are more optimistic and are in general agreement that the economy is making progress toward the CBE’s 7% y-o-y (± 2 percentage points) target for 4Q 2026.

Egypt’s current account deficit is expected to narrow again by 0.6 percentage points to 3.8% in the current fiscal year, which the lender attributed in its previous forecast to lower oil and natural gas prices, robust remittances, and a “vibrant tourism sector.” Our fiscal deficit is also seen tightening by 0.7 percentage points to hit 6.7% in FY 2025-26, according to the report.

The region as a whole has also shown some signs of recovery, with the World Bank’s latest forecasts for MENAAP now expecting GDP to average 2.8% in 2025, marking a marginal increase of 0.1 percentage point from its June forecast. The upward revision is backed by “stronger oil activity, resilient non-oil sectors, and a rebound in agriculture and tourism,” the lender said. Regional GDP growth is also expected to accelerate further to 3.3% next year and 3.8% in 2027.

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4

Automotive

Egypt’s auto sales rebound in August, breaking 17k mark for first time since 2022

Auto sales bounced back in August after July’s decline, rising 12.7% m-o-m to 17.6k units, up from 15.6k sold in July, according to figures from the Automotive Marketing Information Council (AMIC) seen by EnterpriseAM. This marks the first time sales have breached the 17k threshold since June 2022, reinforcing the recovery momentum that began earlier this year despite July’s brief pause.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Passenger cars led the rebound, climbing 36.6% m-o-m to 13.3k units. Truck sales also saw a solid 26.2% increase to 3.1k units, while bus sales grew a more modest 8% to 1.2k units.

The recovery looks even stronger on an annual basis, with total vehicle sales up 75.4% y-o-y in August. Passenger car sales jumped 59.7% y-o-y, bus sales more than doubled, up 102.6% y-o-y, and truck sales nearly tripled, climbing 180.6% y-o-y.

REMEMBER- Auto sales saw a partial recovery last year, growing around 13.2% y-o-y with some 102.2k vehicles sold throughout the year. The rebound came after the market was able to catch its breath following a turbulent period triggered by an FX crunch that limited supply in the market and gave distributors leverage to hike prices as they pleased.

A caveat to the numbers: Amic figures are sourced from member distributors, representing the bulk — but not the entirety — of the industry.

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5

Cabinet watch

Cabinet greenlights new universities, sends competition bill to parliament

The Madbouly cabinet signed off on a new Competition Protection and Anti-Monopoly Act, and will now ship the bill to the House of Representatives for discussion. The law aims to tighten oversight on market dominance, promote fair competition, and prevent anti-competitive behavior among businesses.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Two UK universities get the greenlight: Cabinet approved establishing the Capital Universities Foundation in the New Administrative Capital to host branches of Queen Margaret University and Edinburgh Napier University. Both institutions will offer undergraduate and postgraduate programs under the academic supervision of their home campuses. Queen Margaret’s branch will provide programs in business, psychology, education, and health sciences — including physical therapy, nutrition, and occupational therapy — while Edinburgh Napier will offer degrees in computing, engineering, data science, design, and renewable energy.

…And Alexandria is getting a new private university: The council of ministers also approved the establishment of the Mediterranean University in Alexandria. The university will include faculties of medicine, dentistry, physical therapy, nursing, business and economics, and computer science and AI. The medical faculty will open after the completion and approval of the university hospital, while the institution will also be able to set up specialized colleges, research centers, and postgraduate programs offering diplomas, master’s, and doctoral degrees.

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6

LAST NIGHT’S TALK SHOWS

Bassem Youssef returns to Egyptian TV after a decade

After a ten year absence from Egyptian media, Bassem Yousssef made his first appearance on Kelma Akhira with Ahmed Salem as part of a new series of episodes that premiered yesterday on ON TV. Youssef shared new details on his interviews with British broadcaster Piers Morgan, his fundraising efforts for doctors in Gaza, why he abandoned plans to continue his show from abroad, and his appeal to the Gen Z audience (watch, runtime: 35:40).

Youssef said that United Media Services Chairman Tarek Nour convinced him to reappear on Egyptian television to discuss the behind-the-scenes of his recent interviews and to reflect on his personal experience living in the US, especially during the period following the war on Gaza. “For us Arabs and Egyptians living here in America, the shock of what happened on 7 October was very different from what people in the Middle East experienced,” Youssef said, “because we live inside this massive machine that supports Israel.” (watch, runtime: 4:43)

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7

EGYPT IN THE NEWS

The theft of ancient Egyptian antiquities is once again catching the attention of the int’l press

The unfortunately familiar story of stolen Egyptian artifacts is making the news for the second time in as many weeks, this time with the theft of a limestone painting in a tomb in the Saqqara necropolis. The painting in the 4k+ year-old tomb of Khentika depicted a calendar that showed the year into the three seasons dictated by the Nile. Investigations into the disappearance continue. (Associated Press | CBS | South China Morning Post)

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8

ALSO ON OUR RADAR

Foundever opens customer experience center in Luxor

OUTSOURCING-

Global outsourcing firm Foundever inaugurated a new customer experience center in Luxor, its first in Upper Egypt and third in the country, according to a statement from the CIT Ministry. The center employs 240 people and is expected to reach 400 by 2026 as part of Foundever’s plan to expand its 2k-strong Egypt workforce to 5k within three years.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

LOGISTICS-

Denmark-based Scan Global Logistics launched a new head office in Cairo, as part of a growth initiative targeting the Middle East, North Africa, and Turkey, according to a statement from the company. The firm — which also has regional presence in the UAE’s Jebel Ali and Saudi Arabia’s Jeddah and Riyadh — said the move comes on the heels of the promising growth potential of Egypt’s warehousing market.

REMEMBER- Egypt’s local warehousing market is forecast to grow at 7% y-o-y over the next five years amid rising demand driven by new industrial zones and expanding e-commerce operations, according to forecasts from Egyptian Global Logistics.

MANUFACTURING-

French glass and building materials manufacturerSaint-Gobain plans to double its exports from Egypt to African markets to reach EUR 120 mn annually, according to a statement from the Trade Ministry’s Egyptian Commercial Service. The expansion will be driven by the opening of a new EUR 200 mn factory in Ain Sokhna focusing on sustainable building materials. The company currently exports around EUR 60 mn worth of products a year and has total investments of EUR 250 mn in Egypt.

Saint-Gobain is no stranger to Egypt’s construction materials industry, with the company’s flat glass production line in the Suez Canal Economic Zone holding the record as the largest float glass facility in the Middle East. The company also owns two building materials factories in Sadat and Amreya worth more than EUR 150 mn and purchased 100% of United Paints and Chemicals (Drymix) last year from Orascom Construction subsidiary United Holding Company in a EGP 785.3 mn transaction.

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9

PLANET FINANCE

Emerging market rally hits 15-year high as weaker USD fuels global shift

Emerging market assets are surging at their fastest pace since 2009 as investors flock to developing economies, drawn by a weaker USD, high real yields, and attractive valuations, the Financial Times reported yesterday.

An MSCI benchmark of emerging-market equities climbed 28% YTD — its biggest gain over the period in over 15 years — while a JPMorgan index tracking local-currency government bonds is up 16%. Both indices are rebounding from what analysts have called a “lost decade” of underperformance against US markets. Meanwhile, MSCI’s developed-market stocks index is up less than 17% this year, the salmon-colored paper said.

The turnaround follows years of stagnation: Emerging market equities rose just 9% in total between 2010 and 2024, trailing one of the strongest US bull runs in history. “After 15 years of very mediocre performance, the stars are finally aligning and the most important variable there is the USD,” Ian Simmons, senior portfolio manager at Fiera Capital, told the FT, citing the USD’s slide under President Trump’s administration and the Federal Reserve’s shift toward rate cuts.

A softer USD has eased financial pressures on developing economies by lowering the costs of servicing USD-denominated debt, while falling US yields have spurred renewed appetite for local-currency bonds offering high inflation-adjusted returns. Roughly half of this year’s gains in JPMorgan’s EM bond index stem from FX moves, according to Damien Buchet, chief investment officer of Principal Finisterre.

The rally has been strongest in Brazil, Mexico, Colombia, Hungary, and South Africa, where high real rates have kept carry trades appealing, Bloomberg reports. “You can have these multi-year virtuous circles within emerging markets where capital inflows drive improving fundamentals, which will bring more capital inflows,” said Kenneth Orchard, head of international fixed income at T. Rowe Price. Meanwhile, countries with fragile finances — think Turkey -- continue to maintain double-digit policy rates to draw capital.

Governments are tapping into investor demand: Local-currency bond issuance across 17 major emerging markets outside China has hit a record USD 286 bn YTD, S&P Global Ratings’ head of emerging markets credit research Zahabia Gupta told the FT.

The rally has also spilled into equities tied to the global AI boom, with South Korea’s Kospi and Taiwan’s Taiex both reaching record highs as investors pile into chipmakers and hardware suppliers for data centers. Taiwan Semiconductor Manufacturing Company alone now represents about 11% of the MSCI EM Index — more than the combined weighting of several countrie, according to the FT.

Despite the surge, EM assets remain cheap. The MSCI EM Index trades at about 14x forward earnings, compared with 23x for the S&P 500, according to William Blair portfolio manager Vivian Lin Thurston. That valuation gap has fueled much of this year’s “re-rating” in emerging markets, as investors calibrate expectations.

MARKETS THIS MORNING-

Asian markets are trading mixed this morning, with the Shanghai Composite up 0.5%, Japan’s Nikkei almost unchanged, and Hong Kong's Hang Seng inching down 0.8%. Meanwhile, Wall Street futures are slightly inching up, after the S&P ended a 7-day streak of gains.

EGX30

37,097

+0.01% (YTD: +24.7%)

USD (CBE)

Buy 47.49

Sell 47.62

USD (CIB)

Buy 47.53

Sell 47.63

Interest rates (CBE)

21.00% deposit

22.00% lending

Tadawul

11,583

-0.2% (YTD: -3.7%)

ADX

10,082

+0.2% (YTD: +7.0%)

DFM

5,940

+0.5% (YTD: +15.1%)

S&P 500

6,715

-0.4% (YTD: +14.2%)

FTSE 100

9,484

+0.1% (YTD: +16.0%)

Euro Stoxx 50

5,614

+0.3% (YTD: +14.7%)

Brent crude

USD 65.74

0.0%

Natural gas (Nymex)

USD 3.52

+0.1%

Gold

USD 4,008

0.0%

BTC

USD 121,943

-2.5% (YTD: +30.4%)

S&P Egypt Sovereign Bond Index

931.30

+0.2% (YTD: +19.8%)

S&P MENA Bond & Sukuk

150.75

-0.1% (YTD: +7.7%)

VIX (Volatility Index)

17.24

+5.3% (YTD: -3.9%)

THE CLOSING BELL-

The EGX30 rose 0.01% at yesterday’s close on turnover of EGP 4.7 bn (4.1% above the 90-day average). Regional investors were the sole net sellers. The index is up 24.7% YTD.

In the green: Emaar Misr (+4.5%), Egypt Aluminum (+3.3%), and Ibnsina Pharma (+1.8%).

In the red: Telecom Egypt (-2.4%), Orascom Construction (-1.3%), and Fawry (-1.2%).

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Our weekly deep-dive into infrastructure in Egypt.

Published every Wednesday in EnterpriseAM.

Read Hardhat
10

HARDHAT

International investors are increasingly eyeing Egypt’s property sector, but each nationality has its own preferences

Developers and policymakers have a lot riding on their real estate export ambitions, but how much do we really know about what international investors want? Global property consultancy Knight Frank conducted a survey with YouGov that spoke to 264 high-net-worth individuals from Saudi Arabia, the UAE, Germany, the UK, and the US, with an average wealth of USD 9.7 mn each. The results in Knight Frank’s most recent Destination Egypt show that investors’ preferences are very different depending on the country they come from.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

By the numbers: The country currently has USD 120 bn worth of active construction contracts and USD 565.5 bn in planned future projects, cementing its position as a regional real estate powerhouse, Knight Frank Partner and MENA Head of Research Faisal Durrani said at a press conference attended by EnterpriseAM.

Saudis and Emiratis are becoming increasingly interested in our office market, with 49% expressing their interest in it, up more than double the interest recorded in Knight Frank’s 2023 Destination Egypt report. Unsurprisingly, the residential sector stood as the two countries’ most focused upon real estate sector, with 61% showing interest, followed by office space, and then branded residences with 45%.

How wealthy these individuals were also affected their preferences, with 60% of those with a net worth of more than USD 10 mn interested in branded residencies, making it the most popular real estate asset. While on the lower end of the wealth spectrum, the residential sector remained the most targeted sector.

The survey found that 42% of respondents from the two Gulf countries were planning on investing in Egypt’s residential market in 2026, which the report says reflects their bullish forecasts for the country’s economy. In contrast, none surveyed in the US or Germany plan residential purchases for the year and only 6% of those polled in the UK did.

Looking further ahead, the split is still pretty significant, with 86% of Saudi respondents and 82% of Emirati respondents prepared to buy up residential property here in the next few years. Just 14% of those from Germany, 12% from the UK and 5% from the US can say the same.

But after five years, the scales tip, 22% of those from Germany and 20% in the US saying they would buy up residential property after five years. While Emirati commitments slip to 8% and in KSA to 6%.

This reflects the GCC’s more short-term appetite for the market and Europe and the US’ more longer-term interest, but behind the numbers we can also see that those in higher net worth brackets are interested in making purchases soon, while those on the lower end are interested within four to five years and beyond.

The average net worth of individuals surveyed between countries is also a big determiner in the data. The average net worth of those from the UAE stood at USD 24.6 mn and USD 14.1 mn in Saudi Arabia, while the average net worth for interested investors from the UK was USD 6.4 mn, the US was USD 3.8 mn, and Germany was USD 1.1 mn.

Pull factors also vary greatly by country, with those from the KSA citing attractive property prices as the most important factor along with investors from the US. However for the UAE, having properties on the coast was the most important factor, while high quality infrastructure was most important for the UK and proximity to cultural and touristic sites was the most important for Germans.

Residential real estate affordability was the main pull for investors, ranked first by 24.2% of respondents. The survey notes this is due to Egypt's relatively lower prices compared to other parts of the region. The report points to Egypt’s most expensive location in Sheikh Zayed having an average of USD 2.4k per square metre, which is below Dubai’s USD 5.4k and Abu Dhabi’s USD 3.7k.

Both luxury and more affordable housing options in Egypt are attracting global high-net-worth individuals. Some 23.7% of Knight Frank’s respondents said they plan to spend under USD 1 mn on a home in Egypt, while 18.6% aim to invest USD 30-50 mn, mostly as part of portfolio-building.

Just over half of the GCC high-net-worth individuals plan to use their Egyptian properties as second homes or holiday getaways, taking advantage of the country’s coastal areas. Just 20% are looking for main residences, while 13% see their purchases mainly as investment windows for capital gains. Smaller numbers are interested in buy-to-let properties, retirement homes, and places for their children or extended family. The availability of coastal properties has emerged as the main draw for both global and GCC investors considering residential purchases in Egypt.

Policymakers will be happy to hear that the new capital was the most top investment target in the survey, with 34% of those surveyed noting it as a target. In second place is the North Coast with 28% and New Cairo in third with 27%. The new capital’s pull is especially true for the wealthiest of those surveyed, with 47% of those with net worths over USD 10 mn describing the new city as their number one investment target for real estate.

For the 42% of respondents not interested in investing in property here, the main reason cited was “political, economic, or social instability,” which was cited by 49% not planning Egypt purchases. The second most popular reason with 39% was just a general lack of desire to own a home here, while “being unfamiliar with the property market in Egypt” ranked third with 36% — an issue the government is keen to address.

Your top infrastructure stories for the week:

  • The 3 GW Egypt-Saudi electricity interconnection project will be up and running by the end of the year, as the project is now 92% complete, with just testing and the installation of the final connections left.
  • Emirati port operator Gulftainer is planning to invest USD 1 bn in Egypt’s container terminal management and port logistics services, with an eye to managing and operating container terminals in East Port Said, Alexandria, or Damietta.
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CALENDAR

OCTOBER

7-8 October (Tuesday-Wednesday): HACE-Hotel Expo, Egypt International Exhibitions Center.

7-9 October (Tuesday-Thursday): EgyMedica Exhibition, Cairo International Convention Center.

12-16 October (Sunday-Thursday): Cairo Water Week, Cairo.

12 October (Sunday): Capmas expected to release inflation figures for September.

19-20 October (Sunday-Monday): Egypt to host the fifth edition of the Aswan Forum.

19-22 October (Sunday-Wednesday): Arab African Investment and International Cooperation Summit.

23-25 October (Thursday-Saturday): Stone Africa Expo, Cairo International Conference Center.

October: The third iteration of the Export Smart Exhibition and Conference.

October: The tenth session of the Egyptian-Lebanese Joint Higher Committee.

Mid-October: Capmas to publish the findings of its 2023-2024 income and expenditure survey.

NOVEMBER

1 November (Saturday): The official opening of the Grand Egyptian Museum.

16-19 November (Sunday-Wednesday): Cairo ICT 2025, Egypt International Exhibition Center

20 November (Thursday): Monetary Policy Committee meeting.

23-25 November (Sunday-Tuesday): NEBU Expo 2025 gold and jewelry exhibition, Egypt International Exhibitions Center, New Cairo.

November: Egypt to join the EU’s Horizon Europe research and innovation program.

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Center.

4-7 December (Thursday-Sunday): Egy Stitch & Tex Expo 2025, Cairo International Conference Center.

25 December: (Thursday): Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

Mid-2025: EGX launches sustainability index.

December: Germany’s North Rhine-Westphala business delegation to land in Egypt.

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors

2H 2025: Potential visit by Chinese President Xi Jinping to Egypt

4Q 2025: The beginning of construction works on China’s State Grid two solar projects.

4Q 2025: GB Auto starts assembling one of China’s Great Wall Motor models in 4Q 2025.

4Q 2025-1Q 2026: Kasrawy Group to launch first Avatr EV models in Egypt.

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2025: Release of the government’s Startup Charter document.

Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.

2026

Early 2026: Passenger operations on the New Administrative Capital–Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna–Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

1 January: European Union’s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.

10-12 February (Tuesday-Thursday): Gitex Global’s AI Everything Middle East & Africa Summit

15 March 2026: IMF to hold its seventh review of Egypt’s USD 8 bn EFF arrangement.

May 2026: End of extension for developers on 15% interest rates for land installment payments

15 September 2026: IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

https://entlaq.com/events/2

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings for 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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