Tatweer Misr partakes in govt.’s initiative to market Egyptian property projects
Egypt’s Tatweer Misr said on Monday it will be participating alongside several real estate firms in Cityscape Global Exhibition, in which Egypt will be featured as Country of Honor. The exhibition will take place in Dubai from 2–4 October 2018.
The initiative of Country of Honor, is new to Cityscape Global and is the result of a recent MOU signed with the Egyptian Ministry of Housing and New Urban Communities that will see Egypt as a guest of honor at any of the conferences and exhibitions organised by Informa for the coming year, most importantly Cityscape Global.
Accordingly, a pavilion will be allocated to Egypt to showcase its current investment opportunities, particularly those offered at the New Administrative Capital and new cities alongside the Egyptian real estate developers.
This event represents one of the steps in the government initiative, sponsored and driven by Prime Minister Moustafa Madbouly, towards supporting the Egyptian real estate industry exports through marketing their projects to a global audience.
According to Ahmed Shalaby, Chief Executive and Managing Director of Tatweer Misr, “This initiative provides us with a tremendous opportunity, it is a great honor to participate and support our country’s initiative to promote Egypt globally.”
Shalaby continues that fundamentally Egypt is extremely well equipped to compete in the second home market. To begin with, prices of second home units in Egypt are less than similar units in the international market and we also have the highest return on investment compared to the nearby markets such as Turkey and Greece.
Cityscape Global is the foremost forum for real estate regionally and globally and brings together the full spectrum of real estate professionals to network and discuss those business critical issues affecting business decisions in the global real estate market place.
“This is a key step to launching a marketing campaign for Egypt overseas” says Shalaby explaining that “no one is really familiar with the Egyptian real estate market and the quality of our products which can easily compete in a demanding international environment.”
Shalaby underscores that this is the beginning of a long-term strategy and requires our permanent presence in at least four to five international real estate exhibitions annually with an Egyptian pavilion, that comprises both representatives from the government and private sector developers.
While the government already has taken constructive and necessary steps towards improving the variables that will support export such as granting residency to foreigners or facilitating contractual agreements.
The presence in international exhibitions according to Shalaby is only the first step towards the international marketing campaign that needs to be followed by further marketing activities such as intensive media campaigns. Including widespread coverage in real estate magazines, with articles on Egyptian summer homes and our retail projects, as well as, being present in the major international real estate exhibitions.”
The key to success moving forward according to Shalaby would be a comprehensive plan that includes a number of different players including real estate service companies, government entities and real estate developers working together towards this goal. Tatweer Misr has already taken steps towards such a long term strategy during the last year with its signing on of Liverpool as part of a marketing strategy that will see Tatweer Misr promoted in the European market over the next three years.
As for Cityscape Global, Tatweer Misr is showcasing Fouka Bay in North Coast which very recently won the Top Mediterranean Resort under development award by Mediterranean Resort and Hotel Real Estate Forum and its flagship project IL Monte Galala in Sokhna which also was awarded the best in class in the category Residential Low Rise Future projects in all the emerging markets from Cityscape Global in addition to its recently launched mixed use project Bloomfields in Mostakbal City.