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Hisham Talaat Mustafa: No real estate bubble, minimal defaults
Real estate businessman Hisham Talaat Mustafa confirmed that the Egyptian real estate market is not facing a genuine crisis. He stated that the talk about a housing bubble affecting around 6,000 units is a small figure compared to the major companies’ sales, which generate profits exceeding 800 billion Egyptian pounds and deliver about half a million units. He clarified that customer collection rates exceed 99%, and that the default of some small companies does not reflect an overall crisis. He pointed out that the price increases in 2023-2024 were due to the exchange rate rise, and that the market will not experience price hikes in 2025 or 2026. Mustafa emphasized that the real estate sector constitutes 22% of the Egyptian economy, and that the Developers Law enhances market regulation and prevents infiltrators. He also noted that the profit margin on units ranges between 13% and 18%.
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