The unveiling of some of the country’s top residential projects from Egypt’s new and old cities garnered significant interest from potential homebuyers and investors at this year’s NextMove Egypt, powered by Cityscape.
The show, which runs until tomorrow at the Egypt International Exhibition Centre (EIEC) in Mehwar Almosheer Tantawy in New Cairo, has so far seen developers from across the country tout Egypt’s real estate prowess with offerings in the residential, hospitality and commercial sector.
Investors and homebuyers took the time to familiarise themselves with projects on the show floor from Egypt’s new metropolises and expanding cities – a highlight of the show.
With Egypt experiencing positive investor sentiment, the economy and real estate sector is looking up. Last week, the International Monetary Fund (IMF) forecasted that Egypt’s economy will grow by 5.3 percent in 2018 and 5.5 percent in 2019, up from 4.2 percent in 2017.
The IMF attributed it to the country’s level of foreign reserves, increase in natural gas production, recovery of the tourism sector, and the continued improvement of the confidence of the global business community as a result of Egypt’s economic reform.
In addition, the country was ranked first in Africa in 2017 and 2018 to receive FDI. For experts, the government’s initiatives are helping drive investment and improvement.
“The government’s investment in infrastructure offers a support pillar to the increased number of projects underway,” says Ayman Sami, Country Head Egypt, JLL.
It’s a good sign for the real estate sector. Developers have come out in full force over the last two-days, showing their support for the sector by launching new projects and offering attractive payment plans on new apartments, villas, and townhouses.
Exhibitor, Memaar Al Morshedy showed visitors SkyLine the world’s largest residential building.
“The real estate market is looking brighter than ever as the market is now stable. For potential homebuyers, the factors which affect them are prices and location,” says Omar Al Morshedy, Marketing Director at Memaar Al Morshedy.
El Tayebi Development have launched Buena Vista in New Cairo and Project 215 – Degla El Maadi, in Degla El Maadi – both luxury residential projects.
Also, among this year’s launches was the residential project, Country by Misr Al Ghad in Bait Alwatan in the fifth settlement, New Cairo. The developer is offering a EGP 50,000 discount on the new project.
NextMove Egypt, powered by Cityscape, is supported by Platinum Sponsor Next Home, and 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.