Mubasher: International property advisor Savills on Monday announced plans to expand its regional presence by entering the Egyptian market, citing an influx of industry reports that indicate that the Arab world’s most populous country has “great growth potential.”
The UK-based firm also appointed Catesby Langer-Paget as the Head of Egypt to launch the new office and operations.
Savills has been working on expanding its presence in the Middle East and North Africa (MENA) and the announcement follows its acquisition of Cluttons Middle East.
The UK property advisor is working on growing its regional capabilities “to play a key role in Egypt through catering to different stakeholders within the real estate market and supporting the property project lifecycle with a robust service offering,” it said in a statement.
Commenting on the new Egypt branch, Savills Middle East CEO Steven Morgan said his company was determined to “be at the forefront of the resurgence of the Egyptian real estate market.”
He described the Egypt launch as a “key part” of Savills’ regional development strategy.
As for Langer-Paget’s appointment, Morgan said he believed that Langer-Paget was “the ideal man to lead the growth of our business in Egypt.”
