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Athens, Cairo Depict Top Global CRE Struggles

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.

By Robert Carr | Updated on December 21, 2012

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.

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