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Jones Lang LaSalle has announced that it is opening a full-service real estate operation in Cairo during the first quarter of 2010. The announcement was made at the 4th Annual Cairo Investment Forum at the Semiramis InterContinental Hotel, Cairo, during which the firm also released a strategic research report, Cairo: Open for Global Business.

'Cairo is becoming an international real estate market and is emerging on the radar screen of an increasing number of regional and global developers, investors and occupiers,' said Thierry Loué, CEO of Jones Lang LaSalle MENA. 'The key markets in Cairo are driven by ‘end user’ demand rather than speculative development. As the Cairo market is largely cash-driven, it has experienced much lower levels of debt than in many other cities in the region. It is therefore more stable with greater prospects for sustained growth than many of its peer cities.'

'More than any other regional city, Cairo is characterised by a combination of mature and emerging market conditions. The city is growing rapidly from its constrained historic core to a range of new self-sustaining cities on the urban periphery. We see Cairo as a global city with a tremendous future - which is why we are opening an office here in early 2010,' he added.