Cityscape 2014 Exhibition Sees Massive Success in Egypt

Cityscape proudly concluded its third and largest ever edition on Saturday 12th of April, 2014 with massive attendance from visitors. Exhibitors, guests and officials who attended the Egypt Real Estate Summit, held between the 7th – 9th and the Cityscape Exhibition, held between the 9th – 12th, were highly impressed with the diversified portfolio of projects and industry focus from major players in the sector.

“The Cityscape Egypt 2014 edition has by far exceeded our humble expectations,” commented Wouter Molman, Director of Cityscape Global. “This success is mirrored in both visitor turnout and interest. We can see the great potential that the real estate sector in Egypt has to offer to both local and international investors. Step by step, the road for political and economic stability is becoming clear and this will contribute in no small part to speedy sustainable development.”

Egypt Real Estate Summit:

The Egypt Real Estate Summit concluded on a high note last Wednesday 9th April, 2014 with a positive outlook on the sector’s future by Egypt’s leading industry experts and sector leaders. The final session, entitled “CEOs Shape the Economic Roadmap for Egypt in 2015”, discussed the potential that the real estate sector offers asserting the need for speedy political stability in order to achieve sustainable economic growth.

The session was attended by a number of CEOs including:

–          Hisham Shoukry, Chairman of Ro’oya Group for Real Estate Development

–          Gamal Mouharam, CEO of MGM Group

–          Adel Danash, CEO of Smart Village

–          Mohamed Abdallah, CEO of Coldwell Banker

–          Wael El Nashar, CEO of Onera Systems

Participating speakers ensured that the Egyptian economy is ready for a speedy recovery especially that the economic infrastructure has not been highly affected by the political turmoil of the past three years.

“The real estate sector is not one of but the most important sector in terms of contribution to the country’s economy,” said Hisham Shoukry, Chairman of Ro’oya Group. “The sector supports more than 100 complimenting industries and offers millions of jobs to Egyptians – directly and indirectly. We can see the current government taking solid steps towards reform however, the need for land is dire in order to be able to achieve true development.”

Speakers have also asserted the need for more collaboration between the government and the private sector naming it a ‘successful business marriage for sustainable growth’.

On attracting investments both local and foreign, speakers expressed the need for clearer laws and regulations that protect the investor’s rights as well as acts as a check point for investors to create transparency and governance.

“In order to be able to achieve a healthy investment climate the investor needs to know that the laws will not change and that his investments will be protected by the law,” said Gamal Moharam, Chairman for MGM Group.

The summit included two specialized conference days, focusing on key market trends and booming market sectors, offering valuable market insight and up to date information on critical developments as well as over six networking opportunities providing unlimited potential to create new contacts and expand existing relations and more presentations than ever before offering exclusive learning potential and in-depth analysis of critical topics.

Cityscape Exhibition 2014:

Deemed as the largest real estate exhibition of the year, Cityscape Egypt succeeded in attracting hundreds of industry experts and exhibitors showcasing over 100,000 projects for more than 12,000 eager homebuyers and visitors.

The third edition of Cityscape Egypt took place under the auspices of  Moustafa Madbouly, Minister of Housing, Utilities and Urban Development and focused on opportunities for Egypt to continue to grow and attract investments creating a sustainable vision for the sector in 2014.

The exhibition featured more than 100 participating companies including Palm Hills Developments, Sodic, Emaar Misr, Coldwell Banker, Al Oula and Ro’oya Group amongst others. High visitor numbers were complimented by major announcements from some of the industry’s leading developers. During the exhibition, Tasweeq Shopping Malls launched Mansoura Downtown Mall, the first shopping destination in Mansoura City.  Mansoura Downtown is marked by the first Carrefour Supermarket in the Delta of Egypt and is established over 12,000sqm of total retail space featuring regional brands for the first time in in the City.

In addition, Coldwell Banker and New Homes announced that the company has achieved a billion EGP in sales last year and are anticipating more than 1.5billion for 2014 marking the room for growth in the Egypt real estate market.

Commenting on the success, Khalid Bahig, Vice President – CEO of Coldwell Banker and New Homes, said “This year we are expecting the best exhibition compared to the past 3 years. This billion EGP in sales last year and our anticipations for this year means that the market is currently on the high side, the demand is there and the clients started to see some political stability and this reflects positively not just on our business but on the industry as a whole.”

Major announcements during the exhibition also included:

–          Hyde Park offering 24 different villa facades that range from Neo-Classical to Italian Country to California-Spanish style.

–          Al Ahly for Real Estate Developments celebrates 20 years of success with 49 projects located on New Cairo, Ain Sokhna, North Coast and Sharm El Shiekh

– launched its new mobile application for Android and iPhone

Showing excitement for his new home, visitor Mohamed Abu Bakr said, “I bought a home from Hyde Park and I’m super excited with this long term investment. I would like to thank Cityscape for creating a platform that brings together all major developers in Egypt. This has truly provided me with the opportunity to research for my perfect home in a friendly and impressive environment.”

“We look forward to more success at Cityscape 2015,” concluded Molman. “We know that with the short to come political stability that market will soon return to the economic high that Egypt saw in 2010.”

Cityscape Egypt is organized by Informa, the largest organizer of events worldwide with over 8,000 employees working in some 150 offices in more than 40 countries, providing academics, businesses and individuals with unparalleled knowledge, up-to-the minute information and highly specialist skills and services.