Housing Minister Inaugurates Cityscape Egypt/Next Move “The Real Estate Exhibition of Egypt”

Dr. Mohamed El-Baradei, Minister of Housing, Utilities and Urban Development officially inaugurated today the largest real estate global event hosted in Egypt, amid the presence of key local and global real estate developers as well architects, contractors and global financial Institutions to communicate and exchange views.

In his Opening speech, Minister of Housing, praised the Cityscape Egypt/Next Move exhibition and conference, the first strategic move to support the Egyptian economy after the revolution, highlighting the developmental role of Cityscape Egypt/Next Move in reconnecting the Egyptian market with the Arab and international markets, and expressed his optimism of a faster recovery of Egypt’s real estate sector.

The Housing Minister, also emphasized the importance of the ministry to endorse such initiatives, which addresses the most sought after issues pertaining to the overall real estate aspects and potential growth of investments in the market.

He assured the strength of the Egyptian economy to face such situations and disorders, proving that the institutions has not realized big losses despite the slow growth of the sector as happened in other companies.

El-Baradei affirmed that the next stage will witness huge developments for the real estate market which will prove that the sector’s strong position in the economic wheel, adding that two  government’s position are currently reconciliated in term of legal and land prices keeping both country and investors rights.

He assured that investment in this sector will remain the most attractive for all global and local investors despite the problems facing the whole economy, adding that he is always receiving demands and studies from foreign investors concerning projects in Egypt.

He said that projects provided by the ministry in cooperation with private sector – as million home’s project – will serve many segments from low income level to luxury housing, adding that those kind of projects realize a more social equity assuring that the government will be a great supporter.

In the his main message to exhibitors, Minister stressed that holding the exhibition at this time is a positive sign of the real estate market in Egypt and would have a major role in stimulating and supporting the real estate market in Egypt and to attract new investments through conferences , workshops and roundtables, as well as exchange visions of different investments, adding that the government supports foreign investment and the Arab sector, especially since real estate is full of diverse investment opportunities after the revolution.

Cityscape Egypt/Next Move is one the most successful exhibitions in the Middle East. Several remarkable activities are taking place during the event including; two dedicated conferences focusing on the real estate and retail real estate industry, the investor round tables and the Cityscape Awards for Real Estate in Egypt Gala Dinner presented by Emaar.

Emaar Misr, the wholly owned subsidiary of Emaar PJSC, is the main sponsor of the Cityscape Awards for Real Estate in Egypt Gala Dinner, a move that came about due to the company’s belief in the importance of highlighting the Egyptian real estate industry and recognizing the biggest successes of the past year. Commenting on the awards, Hazem Ashry, Emaar Misr’s General Manager, stated that Emaar Misr had enjoyed a record year during 2011, and so it was important for the company to promote and support the Egyptian real estate market by sponsoring this important ceremony.

The Cityscape Awards for Real Estate in Egypt Gala Dinner will take place on 21 February at a prestigious venue in Cairo. The short listed nominees for the Awards are on six categories: Best Sustainable Development Award, Commercial, Office & Retail Project Award (Built), Commercial, Office & Retail Project Award (Future), Mixed Use Project Award (Built), Mixed Use Project Award (Future), Residential Project Award (Built), Residential Project Award (Future), Retail Award (Built), Retail Award (Future), Tourism and Hospitality Award (Built), Tourism and Hospitality Award (Future).