Environmental pollution and Real Estate Market in 2024

Real Estate Market in 2024

Pollution and the general well-being

Exposure to ambient air pollution which affects the real estate market in 2024 with particulate matter (PM2.5) is strongly linked to several health hazards, including cardiovascular disease, respiratory disease, and lung cancer mortality and morbidity.

The risk of these diseases is directly proportional to the level of exposure to PM2.5. It is crucial to note that the World Health Organization and the Global Burden of Disease study have unequivocally identified these health hazards.

These alarming figures underscore the urgent need for Egypt to continue its efforts to expand access to drinking water and sanitation, as highlighted in Table 5.4.

Egypt’s institutional and legal framework for managing the environment conservation

There are many existing laws and regulatory frameworks including various environmental conservation aspects. Consider Law No. 12 of 1982 on Water Quality Management; and Law No. 48 of 1982 on Nile River Protection and its Amendments.

Simultaneously, Egypt has implemented numerous environmental regulatory instruments that tackle diverse facets of environmental preservation and management of natural resources to increase the demand of the real estate market in 2024.

Towards mitigating the dangers of climate change and creating a sustainable environment in the real estate market in 2024

Egypt and the Sustainable Development Strategy in line with the 2030 Vision to integrate environmental considerations into a range of economic sectors, focusing on the environmental conservation aspect of sustainable development in the real estate market in 2024.

Attain efficient resource management and preservation while ensuring future generations’ rights to development. In addition to promoting job possibilities and economic competitiveness, this will also lessen poverty and advance social fairness.

The plan calls for several institutional changes, including creating a higher council for sustainable development, reinforcing the legal and administrative framework for water resource management, and modifying economic policy to encourage sustainable consumption habits.

The infrastructure that is required for the sustainable management of water resources must also be established as part of the strategy. Moreover, it lists Egypt’s primary environmental conservation concerns, such as waste management, air pollution, biodiversity preservation, safeguarding the marine and coastal environment conservation, and climate change.

Egypt’s commitment to its responsibilities under international environmental treaties is supported by the plan, which also fosters public awareness and involvement with the commercial sector and civil society real estate market in 2024.

Sustainable Housing Trends Across Egypt

Egypt’s urbanization crisis demands sustainable housing solutions to address the housing crisis improve living conditions for the country’s urban communities and enhance the real estate market in 2024.

Here are some key trends of the real estate market in 2024 and initiatives related to sustainable housing in Egypt:

  • Sustainable Construction:

There is a growing interest among developers in Egypt to integrate sustainable practices into construction processes This includes incorporating eco-friendly materials, energy-efficient designs, and renewable energy sources into new housing projects. Sustainable construction practices can help reduce the environmental impact of buildings and improve energy efficiency.

  • Inclusive Housing Finance:

The World Bank has been supporting Egypt’s national housing program through its Inclusive Housing Finance Program-for-Results (PforR). This program has provided subsidies to over 420,000 low-income households, with a focus on supporting young people and women by providing financial assistance, the program aims to make housing more accessible and affordable for those in need.

  • Sustainable Urban Development:

Egypt is in the process of constructing 22 new fourth-generation cities to accommodate the growing population These new cities are designed to improve the overall quality of life, increase housing and job opportunities, and promote sustainable development. The National Strategy Plan for Urban Development 2052 aims to expand the inhabited land area to 14% through these new cities.

In Egypt, there are several innovative eco-friendly housing projects and initiatives that aim to address the housing crisis and promote sustainable living. Here are some notable examples:

Sustainable Cities:

Egypt is in the process of constructing 22 new fourth-generation cities to accommodate the growing population. These cities are designed to improve the real estate market in 2024 and the overall quality of life, increase housing and job opportunities, and promote sustainable development.

Sustainable Architecture:

The American University in Cairo’s Faculty Housing Building is a leading example of green architecture in Egypt. It incorporates various eco-friendly elements that contribute to energy efficiency, water conservation, and overall sustainability.

The Best Places in Egypt that Support Environment Preservation in 2024

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