‘Hurghadians’ can’t help but return to their second home

Hurghada is one of Egypt's leading holiday resorts, popular with visitors from around the world. It is the perfect getaway for those seeking total relaxation with fantastic weather and warm sea temperatures throughout the year. The city is fast growing into a major holiday resort, packed full of attractions, and it has a growing reputation as an international destination for visitors from all corners of the globe.

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Egypt Ranks First in ‘Where to invest in Africa 2018’ List

Egypt has replaced South Africa and made it to the top of “Where to invest in Africa in 2018” list released by the Rand Merchant Bank (RMB)

South Africa is now second on the list. RMB said in a report, “Egypt displaced South Africa because of its superior economic activity score and sluggish growth rates in South Africa, which have deteriorated markedly over the past seven years.”

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JICA funds solar power plant in Hurghada with $60m

the JICA has completed the project’s feasibility study and provided a $1.5m grant to place equipment in the plant’s location with the aim of measuring the solar emissions to be sure about the project’s feasibility during different times of the year and calculate the expected production at the implementation. Part of the financing is allocated for developing the centres of NREA.

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Is now a good time to buy Real Estate in Egypt?

In general, buying a property today with relaxed payment terms is a good idea. No one can be certain how much more the pound will devaluate, but judging by the current state of the economy, and the lack of full capital mobility, we expect short-term fluctuations but medium-term loss in value. So if you buy a property today, with 5-7 years of payment terms, you are fixing the price of a unit in pounds. That unit’s price in pounds will increase significantly over that time period due to inflation.

If your basis is foreign currency, then real estate got much cheaper for you. So now would be the best time to buy with relaxed payment terms. Timing is key, and you should buy your new property before any further price increases. Any further devaluation will benefit you by making your future payments even cheaper in foreign currency terms.

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