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Ahram Online: Egypt's hotel sector witnesses highest performance since 2008

In parallel, the tourism sector continues to perform well with new infrastructure, improved security and major attractions such as the GEM.
06.11.19 | Interesting article at Ahram Online

Egypt's hotel sector has witnessed its highest performance since 2008, as occupancy levels in the previous quarter (Q3) increased by 300 basis points to 73 percent this year until August 2019, according to JLL’s third quarter Cairo Real Estate Market overview report issued on Tuesday.

 

In parallel, the tourism sector continues to perform well with new infrastructure, improved security and major attractions such as the Grand Egyptian Museum set to open next year, the report added.

"Cairo’s real estate market has seen positive performance across all sectors of the market including the hotel, residential, retail and office sectors. The hotel sector in particular has significantly improved occupancy levels as the economy starts to pick up at a time when there is limited new hospitality supply underway," the report said.