Developers to reveal future of real estate in Egypt

Big 5

An array of affordable apartment complexes, coastal residences and ultra-modern villas will be showcased at this year’s NextMove Egypt, powered by Cityscape, as developers speak to the rising demand from millennials and reveal the future of Egypt’s residential sector.

As the residential sales sector improves, experts maintain that healthy sales in the market reflect the demand from millennials who are now entering the prime home buying age. According to the American Chamber of Commerce in Egypt, millennials, a generation that makes up almost 40 percent of Egypt’s population and more than 90 percent of the current workforce, are driving the demand for real estate in the country.

“Because of their sheer volume, millennials have a major impact on consumption and spending, making them an important engine of the economy. And the first wave of this generation, those in the 25-35 age group, are in their prime home-buying years,” notes the American Chamber of Commerce in Egypt.

This year’s NextMove Egypt, powered by Cityscape will see real estate developers speak directly to the millennial demand as they showcase some of the country’s latest and most popular real estate developments.

Taking place from October 18th – 20th at the Egypt International Exhibition Centre (EIEC), in Mehwar Almosheer Tantawy in New Cairo, the event will feature a diverse range of projects from across the country that appeals to first-time homebuyers, investors, and visitors looking for vacation homes in coastal prime areas.

Visitors will be able to avail a multitude of affordable real estate opportunities on competitive payment plans, which include special offers and discount prices on townhouses, villas, apartments, and coastal homes across the country.

“Elevated investor interest and a new generation of eager homebuyers looking for a variety of real estate options is bound to make NextMove Egypt one of the most influential property shows in Cairo,” says Chris Speller, Cityscape Group Director.

According to exhibitor Safwa Urban Development (SUD), the majority of their projects to be showcased at the event are located in the New Capital, a city that has garnered significant interest among millennials, and Obour City.

Once completed the New Capital is expected to accommodate 5 million people and will be the financial as well as administrative capital of the country and is intended to stimulate the economy by offering thousands of jobs.

Marketing Director at SUD, Ahmed Nabil Amer says the company will showcase residential project Capital Heights 2, and The Hub, a new mall, both located in the New Capital. In addition, SUD will launch its brand new commercial project at this year’s show in Obour City.

“For homebuyers and investors attending the show, we believe that it’s important for them to find investments that are in attractive destinations and can guarantee them a high ROI,” says Amer.

“We will also be offering a 0 percent down payment and up to a 7-year-installment with 0 percent interest and a discount of up to 200,000 pounds for some units,”Amer added.

Master Group, NextMove Egypt’s Silver Sponsors, will be showcasing The City Project in the New Capital, which is in close proximity to the Opera House and the highly-anticipated Green River, a combination of open water and planted greenery twice the size of New York’s Central Park.

According to the developer, the project features all buildings from apartments, duplex, penthouses, stand-alone villas, gardens and lakes. It also includes City Square, which consists of various F&B options, a shopping mall, medical centre, social club, and dancing fountain.

Exhibitors this year includes, La Mirada, PUKKA, Memaar El Morshedy, El Batal, Living Yards (The Loft) Akam Developments, Edge Holding, Next Home, Porto Vacation Club, Surouh, and many more.

NextMove Egypt powered by Cityscape is supported by Platinum Sponsor Next Point, Silver Sponsors Master Group and Contact Mortgage Finance.

About NextMove Egypt:

NextMove Egypt, powered by Cityscape, takes place from the 18 – 20 October at the Egypt International Exhibition Centre (EIEC), in Mehwar Almosheer Tantawy in New Cairo.

NextMove Egypt will showcase hundreds of real estate projects from across Egypt, offering homebuyers and investors the ideal platform to secure their next townhouse, villa or apartment. NextMove is powered by Cityscape, which launched in 2002 and has since grown to be the largest real estate event brand globally. Cityscape has welcomed over 500,000 real estate professionals and investors from over 160 countries.