Objavljeno: 01 Sep 2008 10:22     Naslov sporočila: News...

New Egypt Property Investment Developments Sparked by Massive Continued Tourism Growth

(PRWEB) July 24, 2008 -- Both the World Tourism Organisation (WTO) & the World Travel & Tourism Council (WTTC) have identified the massive growth of Tourism to Egypt. This growth is having a positive effect on new tourism businesses introduced like airlines, travel and tour operators and most notably a wave of investment property developments offering beach front properties from £15000.

It's a fact that Egypt is seeking to diversify its economy through tourism and real estate - with increased tourism the demand for short-term rentals should increase which fuels a fly-to-let property investment culture.

Also with increased tourism comes a growing awareness of the fact that Egypt is one of the shortest haul destinations for Britons and mainland Europeans who want year round sun, making Egypt property an increasingly attractive choice for second homes and retirement properties.

But is all this just theory? Not according to a report from the United Nations World Tourism Organisation (WTO) that indicates that Egyptian tourism figures for 2007 rose by 20%.

According to the World Travel & Tourism Council (WTTC) tourism is now on target for up to a 7% annual increase over the next decade, the Tourism Minister has a plan in place to attract 14 million visitors by 2011, and a new initiative targeting Asia, Europe and North America is expected to ensure a doubling of tourists by 2015.

Enabling this increase in arrivals in the fact that Egypt's airports are now open to low cost carriers with Jet2holidays being the latest to announce cheap flights from the UK's Leeds Bradford International Airport to Sharm el Sheikh for example.

But does Egypt have lasting appeal and will it experience repeat visits, or is it a one-visit wonder? Well, the nation's currency is cheaper in relation to the pound than the euro which has resulted in Cheapflights.co.uk recording a 50% increase in flight searches for the resort of Sharm El Sheikh this year compared to last for example.

Then there's the fact that Egypt is blessed with an exceptional climate, unrivalled history and culture, stunning beaches and increasingly attractive resorts into which millions of pounds worth of public and private investment is being ploughed for the enhancement of amenities for visitors and the improvement of facilities for residents.

Hurghada is now a thriving Red Sea resort with many Hurghada properties for tourists and second homer buyers being developed.
Taking all this into consideration then it seems more than likely that Egypt therefore has lasting appeal!

As is abundantly clear then, the fundamentals are in place for the annual 25% capital growth being enjoyed in certain parts of Egypt as well as rental yields in double figures to last as Egypt continues to develop and emerge as such a hot overseas investment property prospect.

Objavljeno: 01 Sep 2008 11:27     Naslov sporočila:

CAIRO, July 28 (Reuters) - Egypt's Commercial International Bank (CIB) said on Monday it had received a 1.3 billion Egyptian pounds ($244.8 million) loan from the U.S. government to expand low- and middle-income mortgage lending in Egypt.

CIB, Egypt's largest lender by market value, said it would loan over 1 billion pounds of the money from U.S. government agency Overseas Private Investment Corporation (OPIC) to other Egyptian lenders and would loan the rest directly to middle-income homeowners.

"CIB sees the deal as in sync with both its socially responsible principles and the government's policies of development," CIB said in a statement.

Mortgage finance in Egypt was growing at 32 percent per year, the country's Investment Minister Mahmoud Mohieldin said in May. The industry could double in size to more than 4 billion Egyptian pounds by the end of June 2009, he said at the time.

Economic growth of more than 7 percent per year, Egypt's fastest in more than two decades, is allowing more Egyptians to buy houses.

OPIC, set up in 1971, assists U.S. businesses in investing overseas and promotes economic development in emerging markets. (Writing by Will Rasmussen; Editing by David Holmes)