Dr. Mohamed Rashid, a board member of the Real Estate Development Chamber, confirmed that the West Cairo region, particularly Sheikh Zayed and October, is witnessing a major urban boom, with housing demand increasing by 35% in 2024 compared to 2019.
Growth has been driven by infrastructure developments such as the 26th of July Corridor, the Regional Ring Road, and Sphinx International Airport, which received two million passengers in 2024, boosting the area’s investment value. Its proximity to the Grand Egyptian Museum and historic sites has also fueled demand, especially among youth and the upper-middle class, which makes up 60% of society.
The area of Sheikh Zayed expanded with the addition of 21,000 feddans from New Sphinx, bringing the total development area to more than 31,000 feddans, attracting many real estate developers. Meanwhile, residential unit prices have surged dramatically, now ranging between 35,000 and 55,000 EGP per square meter, compared to just 15,000 to 20,000 EGP in 2019.
Rashid noted that new land fees may impact selling prices by 3–5%, since land costs account for 20–25% of a unit’s price. However, he stressed the need for a flexible framework in applying new legislation to maintain investor confidence and market stability.
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