ATHENS—Two of the world's oldest trading markets, Athens and Cairo, have seen better days. Greece cut thousands of jobs in February to help gain billions of dollars in bailout from euro zone partners, and Egypt has struggled to recover from the revolution-spurred removal of president Hosni Mubarak. Commercial real estate in the two countries is locked in recovery mode.
Greece has made the biggest headlines recently, as the country has taken billions in bailout money from European finance ministers and the International Monetary Fund. The country's troubles led the debt crisis problems in the second half of 2011. Now, it seems like the country's leaders have showed that the government is ready to initiate austerity measures, though residents launched riots in protest.
Recently, L.P. Ellinas Real Estate Consultants & Valuers, based here, joined the TCN Worldwide organization. General manager Evi Chaviara says she believes Greece's original entrance into the European Community was one of the catalysts for her country's current crisis.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
