(MENAFN) In a report, property consultancy JLL's Cairo Real Estate Market revealed a surge by 3 percent in the occupancy rate posted within hotels located in the Egyptian capital of Cairo to stand at 73 percent by August 2019 on annual basis.
Egypt was confirmed to have witnessed its Cairo-based hotels lock the best performance to be seen in more than ten years amid a jump in guests in the capital as well as restricted supply of fresh hotel plans.
JLL Egypt country head Ayman Sami affirmed that "as the economic situation in Cairo is recovering and the Egyptian pound is strong, we are witnessing healthy demand levels across all the sectors of the market."
Sami further added that "we expect to see an even more healthy economy in the months to come as government initiatives and large-scale tourism projects continue to boost demand and drive investment in the market."
MENAFN0711201900450000ID1099236619
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.