Spotlight on new and expanding cities in Egypt’s real estate show

Big 5

The strength of Egypt’s residential sector will be on display at NextMove Egypt, powered by Cityscape, which opens its doors tomorrow.

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.

The consumer-focused show will offer up new and existing residential projects in the country at affordable prices from the show’s 30-plus exhibitor list.

“Our exhibitors will be offering more than just houses, they’ll be offering homes in thriving communities in Egypt’s old and new cities. Buyers are traditionally looking for apartment units, townhouses or villas in areas that are close to places of work, schools, retail and hospitals and our exhibitors will offer them an array of options,” says Chris Speller, Cityscape Group Director.

One of the new communities that will be under the spotlight at this year’s show is the New Administrative Capital. The city is gaining significant traction among local and international investors.

The government-backed project will be the administrative capital of the country and will house up to 7-million people, including the government, Presidential palace, businesses, and a young, professional population, and is expected to stimulate the economy by offering thousands of jobs.

Estimated to be almost as large as Singapore, the New Capital will also house Africa’s tallest tower, the Nile Tower. Designed by the late acclaimed Zaha Hadid, the government is working with project developers to design the Nile Tower that will rise 70 stories and include luxury apartments and a hotel.

According to Ayman Sami, Country Head, Egypt, JLL, Cairo’s population is expected to hit 40 million by 2050 and competition for housing is fierce in the capital.

“In 2017, sale prices in New Cairo spiked by 50 percent and, while housing in the new city will likely be only slightly more affordable than current Cairo, it promises a cleaner, greener, more sustainable way of life,” he says.

For local and international investors, Sami says that the real estate market stands as the top performing sector due to real demand that guarantees a healthy return on investment. “Moreover, following the pound devaluation, property in the Egyptian market holds a highly competitive ticket price compared to that in other countries.”

Looking at some of the projects from new metropolises and expanding cities at the show this year; Marketing Director at Safwa Urban Development (SUD), Ahmed Nabil Amer says the company will showcase residential project Capital Heights 2, and The Hub, both located in the New Capital. In addition, SUD will launch its brand new commercial project at this year’s show in Obour City.

“For homebuyers and investors attending the show, we believe that it’s important for them to find investments that are in attractive destinations and can guarantee them a high ROI,” says Amer. “We will also be offering a 0 percent down payment and up to a 7-year-installment with 0 percent interest and a discount of up to 200,000 pounds for some units.”

Other projects this year includes the residential project being launched at the show by Misr Al-Ghad in Bait Alwatan in the fifth settlement, New Cairo. The developer will be offering a 50,000 pounds discount on the new project.

While Landmark for Real Estate Investments will be offering Elite New Capital, located in the New Capital. The developer will include a 5 percent discount, 6-year payment instalments, and a 2 percent minimum payment.

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.