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Investors buy in El Gouna to hedge against Egypt’s economy

By Shruthi Nair

As the luxury town of El Gouna celebrates its 35th anniversary this year, it is as popular as ever. The 37 million square metre development off the Red Sea coast of Egypt is made up of 10 districts including residential, commercial and retail, and houses 25,000 permanent residents.

Despite it being one of the most expensive places to live in Egypt, the country’s economic crisis and currency fluctuations have not dented demand or appetite for growth, as El Gouna plans for a new development including significant co-working space.

Watch this video for El Gouna CEO Mohamed Amer’s insights on how Egypt’s luxury property market remains resilient to Egypt’s economic challenges

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