The most well-known and exclusive of these apartment buildings, she added, are in southern Zamalek, in an area called The Golden Square. More: Dubai Villa Prices Fall to Lowest Point in a Decade Al Salawy said that the older apartment buildings that have high ceilings and are in the “good old Egyptian style” are in high demand and are hard to find because residents hold onto them and pass them down from generation to generation. “The government has prohibited the demolition of the few remaining villas, and they are highly sought after as private residences, embassies, company premises or boutique hotels.” However, most of the elegant villas have been demolished,” Mr. “Zamalek is still considered the most affluent district in Cairo. Today, however, it’s a neighborhood of apartment buildings of seven to 15 stories, most of them built in the 1960s and ’70s in the prevailing contemporary style of those decades. Zamalek, traditionally a district favored by foreign dignitaries, Egyptian royals and the country’s well-to-do residents, used to be dominated by large, opulent ornamented villas that were erected in the 19 century. In the southern section, she added, properties typically sell for EGP£15,000 to EGP£20,000. More: Pricey New Developments Rise in Dubaiīroker Dina Al Salawy, the founder of the real estate firm that bears her name, noted that in the northern section of Zamalek, the most exclusive area, prices are at least EGP£50,000 (US$2,992.15) per square meter.

“It was nice, but nothing special,” he said. He added that recently, a 200-square-meter 1960s contemporary villa on a 2,000-square-meter lot sold for US$8 million.

“Aspects like location, architecture, condition, and history of the property, for example, if it belonged to a famous person in the past, all are factors,” he said. Kamal El Tawil, managing partner of Real Estate Egypt, said that estate villas, which are highly sought after and rare, run US$2 million to US$10 million, and apartments are US$1,200 to US$3,800 per square meter.

Almaz marriott zamalek