Continued growth for housing market: NextMove Egypt

Big 5

Prompted by the rise in demand for residential communities with integrated retail, leisure, and entertainment facilities, real estate developers at this year’s NextMove Egypt, powered by Cityscape, are ramping up efforts to entice potential homebuyers with a range of apartments, villas, and townhouses in new mixed-use developments.

Opening its doors on the 18th October and running until the 20th at the Egypt International Exhibition Centre (EIEC) in Mehwar Almosheer Tantawy in New Cairo, NextMove Egypt, powered by Cityscape, will reveal hundreds of real estate investment opportunities for prospective buyers and investors across all price points, offered with attractive payment plans and down payments.

Omar Al Morshedy, Marketing Director at Memaar al Morshedy, one of the exhibitors at this NextMove says that homebuyers are always on the lookout for location, prices, developer reputation, instalment plans, and options on a range of spaces and down payments.

The company will be capturing the attention of visitors to the show this year with its latest project Skyline, expected to be the world’s largest residential building once completed.

The building is expected to occupy 200,000 square metres and will be built over a seven-year period, with the first phase expected to be ready in three and a half years.

The town-like complex will be established in Maadi, Cairo, and will offer its residents entertainment and dining experiences from a hyper market to ice skating and cinemas, while also housing offices.

“The real estate market is looking brighter than ever, and the market is stable. For potential homebuyers, the main factor that affects them is the price and location,” said Morshedy, adding that they always aim to offer clients the best value and competitive prices.

The company also plans on showing projects in 6th of October City, Nasr City, Maadi, Ring Road and Kattameya.

According to Oxford Business Group, the first and second quarter of 2017 saw the pound stabilising, FDI rise and economic reform translating into greater certainty in the sector, with developers continuing with existing projects and launching new and innovative ones.

In addition, new metropolises and expanding satellite cities in the country is expected to absorb population growth and reduce densities in Central Cairo. NextMove exhibitors will be showing just a few of these projects at the show this year.

“The government and the private sector have major plans for the real estate sector over the next few years, for both local and foreign investors. The appetite for property remains substantial, with experts revealing property represents around a third to half of Egyptian families’ wealth within middle and high-income levels,” says Chris Speller, Cityscape Group Director.

“The demand for middle-income housing in Egypt remains a central issue, and what NextMove Egypt aims to do is connect the country’s residential developers with potential homebuyers. In addition, the rise in consumer confidence and attractive payment plans at the show all point to NextMove Egypt being ideally positioned to facilitate real estate investment,” he added.

This year’s exhibitors also include Porto Vacation Club (Amer Group), Living Yards Developments, Safwa Urban Development (SUD), Zahraa El Maadi Investment & Development Co., La Mirada, and many more.

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.