Cairo

Cairo is Egypt's capital, the Arab world's largest city by population (~22 million in the greater metro), and one of the Middle East's most important historical, political and cultural centres. The market is currently being reshaped by the government's New Administrative Capital (NAC) project, the country's IMF-backed currency liberalisation, and a wave of post-2022 EGP devaluation that has created compelling foreign-currency entry points. Residential prices in prime districts (Zamalek, Maadi, Heliopolis, New Cairo, Sheikh Zayed) range from EGP 35,000-90,000 per square metre, with gross yields of 7-10% in USD-priced compound segments. The 2024 currency liberalisation (EGP devalued to ~50 per USD) made Egypt one of the cheapest major emerging markets globally on a USD-priced basis. International buyers face no restrictions and can purchase freehold property anywhere in the country. For international buyers, Cairo offers extreme value post-devaluation, very strong gross yields, a 100-million-strong population catchment, and zero foreign-ownership restrictions. The catch: EGP volatility is significant, transaction processes are bureaucratic, and political/macro risk is materially higher than Gulf markets.