The New Avenue team during its semi-annual meeting. Photo credit: New Avenue There is no doubt that real estate is an important sector in the Egyptian economy. According to the American Chamber of Commerce (AMCHAM), 20 percent of Egypt’s GDP stemmed from real estate in 2021—and this was before the recent devaluations of the Egyptian pound. After the pound lost half its value against foreign currencies, Egyptians have been increasingly heading towards the real estate market as a store of value, as high inflation rates discouraged keeping money in the bank or investing in financial instruments such as bonds, bills, and certificates. Nevertheless, committing large sums of money to purchasing a
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