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Thursday, 27 October 2016

PHD sees prices cooling, says it is looking to build Egypt’s second-largest development

PHD’s Abdel Rahman looks to mega deal, sees real estate prices will start to plateau. "There is still room for prices to go a bit higher but at a certain point it will plateau … Instead of seeing 30 percent year over year, you may start seeing 20 percent," co-CEO Tarek Abdel Rahman told Reuters as part of the newswire’s Middle East Investment Summit. The company also expects to sign by year’s end an agreement on what it thinks would be the country’s second-largest real estate project. Reuters reports “the site covers 25 million square meters — equivalent in size to about a third of Dubai — and will include residential and commercial facilities.

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