The flotation of the Egyptian pound has caused challenges for real estate stakeholders throughout 2016, according to the 2016 Cairo Real Estate overview report recently released by real estate firm Jones Lang LaSalle (JLL). “The Egyptian pound showed signs of increased volatility following the devaluation and in December 2016, it lost 52% of its value,” the report said. The rapid devaluation has resulted in uncertainty and has delayed decisions by both investors and occupants who waited to see where the Egyptian pound will settle in value. The currency devaluation has increased costs of inputs in the construction industry, negatively impacting developers’ cash flows, the report said. The report summarised the highlights of each sector in real estate in 2016.

Source: Daily News Egypt January 17, 2017 13:10 UTC