Egypt named country of honour at 2018 Cityscape Global

Egypt has been named the country of honour at the 2018 edition of Cityscape Global, a move that reflects a substantial real estate development underway as the country provides solutions to its ever-growing population and expanding urban areas.

Egyptian Minister of Housing Moustafa Madbouly witnessed the Memorandum of Understanding signing ceremony between his deputy Khaled Abbas and Chris Speller, Director of Cityscape Group.

The agreement was made to shine a spotlight on Egypt’s economic and social development at Cityscape Global, the region’s largest real estate investment event which returns to the Dubai World Trade Centre on 2nd-4th October 2018.

Visitors to the event will be able to learn more about the range of investment opportunities in Egyptian real estate, find out about new projects and new cities such as New Cairo and New Administrative Capital – a smart city expected to accommodate 5 million people, create jobs, house Africa’s tallest tower, and include green space twice the size of New York’s Central Park.

According to real estate consultant JLL, Egypt is witnessing a positive investment climate with the residential sector seeing an uplift and providing attractive market conditions for local and foreign investment, in line with the government’s ongoing focus on economic development.

In light of recent changes to the residency law in the country, which provides foreign nationals a path towards citizenship, a swathe of developers has joined the show’s ranks in order to boost the export of real estate.

In addition, the Egyptian government recently introduced a new investment law designed to eliminate bureaucracy and promote new opportunities to a wider pool of investors, thereby streamlining the entire investment process through one body.

Source: WAM