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Egypt in retail price boost

5/7/2008

Property prices are set to rise in one up and coming area of Egypt…

Plans are afoot for the first retail mall in Hurghada, ending the dark days of trekking along the promenade for hours at a time looking in a variety of shops to find the goods you need.

Metro - Egypt’s largest food retailer - is currently operating 20 outlets in Cairo, Alexandria and Ismailia and it has now expanded into Hurghada. Carrefour, the French retail giant is set to follow suit.

All these movers and shakers in the retail world are in Hurghada to take advantage of the growth in the numbers of people visiting and /or relocating to the area, and the smart property investors are in there too.

Tahir Ali of Egypt Revealed, commented: “With both residential property and now the big guns of the retail industry coming in the property boom in Egypt’s Red Sea Riviera is a full blown reality. No mirage here it seems”.