Decision Makers” Conference concludes its fifth edition with recommendations to enhance the performance of the real estate sector
Exporting real estate and continuing financial incentive packages for investors are among the key recommendations. Participants agreed on the impossibility of a “real estate bubble” occurring in Egypt.
Decision Makers” Conference concluded its fifth edition today, Wednesday, under the patronage of the Ministries of Housing and Utilities, and Investment and Foreign Trade, as well as the General Authority for Investment and Free Zones. The event featured participation from a distinguished group of investors, prominent figures, experts, and major real estate development companies in Egypt.
Participants in the conference put forward a set of recommendations aimed at shaping the proposed visions for advancing the real estate industry through actionable steps. They agreed on the impossibility of a “real estate bubble” in the country and emphasized the importance of supporting the role of real estate development companies by providing financing solutions that cater to various customer segments, with installment plans extending up to five or ten years. They also stressed the need to maintain stable interest rates to reduce the cost of real estate financing and offer competitive project prices, along with ensuring exchange rate stability.
The conference participants highlighted the importance of partnership between the public and private sectors in enhancing service quality and managing utilities. They also noted the necessity of completing legislative environment preparations, which is crucial for supporting public-private partnerships, especially after many steps have been taken to resolve legislative issues related to dispute resolution. Additionally, they emphasized the need for suitable mechanisms to overcome obstacles related to tenant unions as a vital requirement for preserving the quality and maintenance of Egyptian real estate.
Regarding the required government policies, participants pointed out the need to continue providing financial and tax incentive packages to facilitate the work of real estate developers. They also advocated for easing construction requirements and addressing challenges related to the implementation of the national property number and property registration, by publicizing the contract at the relevant authority and allowing for the review of contractual terms within it to ensure compliance with issued ministerial decisions, which would help increase investment inflows.
On the topic of real estate export, participants noted that attracting foreign capital has become one of the most critical issues for enhancing the work of the Egyptian real estate sector, given the available capabilities and major projects in the country that encourage these objectives. They called for a specific strategy to attract foreign investments in the Egyptian real estate sector, aligning with all forms of investments, whether targeting unit purchases, external financing for existing projects, or direct investments for new projects. They emphasized the importance of having investment funds with dollar returns to support these initiatives.
Participants also proposed a set of suggestions aimed at improving the management of real estate assets to ensure increased returns from projects in the sector, alongside reviewing contractual terms to achieve fairness in the relationship between developers and clients. They highlighted the importance of the real estate tourism sector, which requires more efforts to improve its returns in conjunction with urban development efforts in Egypt. They called for the establishment of a federation for real estate developers to organize the field and support medical tourism efforts as part of initiatives to increase the number of hotel rooms nationwide.
Notably, the conference featured the participation of Dr. Walid Abbas, Deputy Head of the New Urban Communities Authority for Planning and Projects, and Supervisor of the Minister of Housing, Utilities, and Urban Communities’ Office, alongside a wide representation of prominent figures from the Egyptian real estate sector, including: Engineer Ahmed Sabbour, Chairman of “Al Ahly Sabbour” Company; Engineer Abdallah Sallam, President and CEO of Madinet Masr Company; Engineer Tarek Shokry, Deputy Chairman of the Housing Committee in the House of Representatives, Chairman of the Arab Holding Company; and Mr. Ashraf Awad, Chairman of “AMG” Real Estate Development Company.
The conference was also attended by Dr. Amr Al-Adl, Vice Chairman and CEO of “MBG” Real Estate Development Company; Engineer Mohamed Al-Taher, CEO of the Saudi Egyptian Construction Company; Mr. Abdel Nasser Taha, Founding President of the International Real Estate Federation in Egypt; Engineer Ahmed Qudri, CEO of “SAK” Real Estate Development Company; Engineer Ahmed Al-Attal, Chairman of “Attal Holding”; Engineer Hisham Shokry, Founding Chairman and Managing Director of “Roya” Holding, and Chairman of the Export Council for Real Estate; and Mr. Ahmed El-Sargani, CEO of “Times” Real Estate Development Company.
