- Info:
- On the highest Mound (Rabwa) in sheikh Zaied city, Green Waves spreads over 35 acres (feddans),
Country
Egypt
Location
Shiekh Zayed
Distance
20 km after Lebanon Sq, Mohandsen, Axis road( Al-Mehwar ) - in front of Al-Alhly Club
Architecture
Contemporary, Modern
Features
Upscale private housing
Phases
3 Phase
Completion Date
2012
Use
Residential
Facilities
Club
Mosque
24/7 security
Electronic gates
Internet
Satellite
kindergarten
Shopping Mall
Swimming pools
Clinic
Unit Types
Villa
FLOOR PLAN
Apartments
FLOOR PLAN
Green Waves
market Analysis
Reviewing analysis of 2009 compared with 2010 results shows a very substantial increase in the supply of commercial property
- thanks in part to the development of new cities to the east and west of Cairo and in part due to projects in the capital itself -
means that years (perhaps decades) of under-development are finally being addressed. For a long time businesses have had little option but to operate in (typically old) buildings
originally constructed for residential purposes.
Now they have some choice.
Demand is also coming from two other quarters.
Western multinationals are establishing and/or expanding their presence in Egypt, with the result that they need more office space. At the same time, Middle Eastern companies are relocating to Egypt, often in response to more difficult conditions in Dubai and Lebanon. Significantly, this second group of companies understands and is tolerant of the risks of operating in Egypt. Even if the political noises surrounding the forthcoming elections produces widespread unrest, these regional companies are unlikely to reconsider their plans.
The result is that conditions are dynamic. Vacancy rates vary, but are generally low or falling. Looking ahead, we expect that the optimism of protagonists in the office and retail sub-sectors will be justified. There should be a double-digit increase in rentals in these sub-sectors in 2011; further - if smaller - rises are likely in the following years. Over the forecast period (2011-2014), we envisage that capital values will increase rather more than rentals. As a result, the general downtrend in yields should continue. Egyptian assets are being re-rated, and the country's commercial real estate sector is a clear beneficiary of this.
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