Diverse local and international exhibitors to unveil new projects at this year’s Cityscape Egypt
Ayman Sami, Country Head for the Egypt office of property consultant JLL, believes that Egypt has already started to become more attractive to foreign real estate investors.
“Those reforms created a shock to the market as we saw the exchange rate jump from 8.8 to 18 or 19. For example an Egyptian living abroad (of which there are an estimated 4.3 million) looking to buy a residential unit in Egypt, will find it at least 30 to 50% cheaper than pre- floatation,” says Sami. “Local brands starting to thrive and expand is a result of the increased demand on local products due to them being more affordable. We will start seeing local businesses expand.”
“Another positive impact will be on the hotels, since Egypt has become a very cheap destination and this will definitely drive the growth of tourism or foreign visitors. It is already starting to become evident with average occupancy levels around Cairo reaching 60% for the first time in years,” says Sami.
It’s a good sign for foreign investors and Egyptians living abroad looking at the Egyptian market, especially with Cityscape Egypt signing more than 93 regional and international exhibitors already, with more expected over the coming month. Cityscape Egypt will take place on March 31st – April 3rd at the Cairo International Convention Centre, and will feature a range of local and international exhibitors who will launch new real estate projects, as well as highlight the progress of ongoing construction developments, both in the private and government sector.
“Over the last few months, the Egyptian economy has undergone a complete overhaul to fuel investment into the market, as a result, investors are looking at the market with a renewed interest,” says Tom Rhodes, Cityscape Egypt Event Director. “Cityscape Egypt is ideally positioned to facilitate capital chasing investment opportunities during this pertinent time in Egypt.”
The agenda, A roadmap to innovation: tackling project financing, marketing and design to prosper, will explore emerging trends that are redefining investment opportunities in Egypt.
With panel discussions from Egypt’s leading government and private sector thought-leaders, the Conference panel discussions include: Egypt’s Vision 2030: Progress and achievements in urban development, tourism, agriculture and industrial sectors; The private sector vision towards achieving sustainable development and; Reducing construction costs and increasing efficiency to overcome the financial crunch, to name a few.
Key speakers at this year’s Conference include; Eng. Fathallah Fawzy, Co-Founder Mena Group, Egypt; Dr. Sherif Samy, Chairman Egyptian Financial Supervisory Authority, Egypt; Mohamed Khodeir, CEO General Authority for Investment and Free Zones, Egypt; Dr. Nihal El Megharbel, Deputy Minister of Planning, Ministry of Planning, Egypt; and Yousef Ahmed Baselaib, Executive Director, Sustainable Real Estate, MASDAR Real Estate Division, UAE.
Some of the exhibitors at this year’s Cityscape Egypt include: Al Arabia Real Estate Development (ARCO), Aldau Heights, Aloula Tameer For Mortgage Finance, Aristo Developers, Beta Egypt for Urban Development, Brouj Property Management, Capital Group Properties, CBRE, Dar Al Maghraby, Egyptian Engineering Development and Real Estate Investment, El-Batal Group, Emirates Heights, Hyde Park Properties for Development, Invest4Land (API Investment), Madaar Development, Pandora Investments Public Ltd-Leptos Estates, Tatweer Misr, Trends Real Estate, and Wadi Degla Developments to name a few.
For more information or to register visit www.cityscapeegypt.com
About Cityscape Egypt
