Egypt’s joining in the International Real Estate Federation-FIABCI in 2016 is to bring significant effects on the Egyptian market since it will enable foreign investors to know more about the market.
President of the Egyptian Chapter at FIABCI Abdel Nasser Taha stated that this step is important since a massive number of states see Egyptian real estate market from a narrow perspective.
He made these remarks during his speech in the second day of Cityscape Egypt conference Wednesday.
Cityscape Egypt 2016 kicked off on Tuesday April 5 at Royal Maxim Palace Kempinski under the rubric of ‘ The Future of Development: Urbanisation, Regeneration and Partnership’.
He added that Egypt is witnessing establishing large projects that need international partners and developers besides the local ones.
Taha emphasised on the importance of making use of current political changes that the state passes through to boost developments in real estate sector.
The head pointed out that global real estate market is completely wide open, hence, the Egyptian one should make use of this to develop since FIABCI has around 1.8 million members specialised in real estate development from 64 states all over the world.
Egypt enjoys large real estate projects besides the potential to compete globally, the official said, adding that Egyptian real estate market is stable but not organised currently.
He clarified that Egyptian real estate market should make benefit from advanced states in real estate field in addition to all technologies that enhance the sector.