Abraaj Capital considering investing in Egyptian real estate

20/04/2011 - Dubai Investment News Posted by Bob Brunskill
Abraaj Capital considering investing in Egyptian real estate

Dubai’s Dubai’s Abraaj Capital continues to seek real estate investments in the region, where it considers the United Arab Emirates and Turkey to offer good returns, while Egypt remains an attractive market, Zawya.com reports.This is according to Faisal Khan, a principal at the company, who said on a panel at the Cityscape conference in Abu Dhabi that it has been looking to invest since the beginning of last year.Last year, the firm acquired a commercial office building in Cairo, Egypt, through its Shariah-compliant real estate fund Asas.Abraaj Capital invests in long-term, income-generating assets in the real estate market in the Gulf and the Middle East and North Africa region.Despite a political premium risk, Egypt remains ideal for investment on the strength of its demographics and a real estate shortage in the office space segment."On a fundamental basis, Egypt remains very attractive," he remarked, adding that its fundamentals are expected to remain strong in the medium to long-term despite concerns over political instability.