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The International Monetary Fund’s USD12 billion credit facility could pave the way for Egypt’s future economic growth, particularly in real estate,

based on Jones Lang LaSalle’s (JLL) third quarter (Q3) Cairo Real Estate Market Overview report.

According to JLL, the currency devaluation and economic reforms signal positive developments for the hotel sector, as the Egyptian capital becomes more affordable to foreign visitors.

The financial performance of accommodation establishments in Cairo has been relatively stable throughout the year, and occupancy rates have shown signs of sustainable improvement, thus, hotels are expected to achieve growth in rates as well as in RevPAR in 2017.

In addition, further enhancements in airport security are likely to stimulate the continued recovery of the North African country’s tourism industry.