The Cityscape Egypt exhibition, which recently concluded, highlighted a tremendous leap in the development of real estate investments in the country known as «the Mother of the World»; as evidenced by the massive urban renaissance represented by development projects in the residential and commercial sectors.
The Arab Republic of Egypt has leveraged its economic ties and tourism resources to attract major international, Gulf, and Saudi companies to construction projects, leaving a high-quality mark on the real estate development landscape, This was clearly evident through the newspaper’s coverage of the exhibition, which highlighted the sector’s ability and flexibility to meet the needs of local and international clients and allowed Egyptians to explore the latest real estate projects on display. Anyone who observes Cairo with a keen eye will find that the growing popularity of the exhibition among citizens stems from strong demand for housing—or a residential unit that ensures individuals can continue their lives in safety, security, and peace—due to the difficulty of finding housing in large cities, and as a result of this urgent need for housing, new residential projects have sprung up on the outskirts of Cairo (both west and east) new residential projects have sprung up, predominantly European in character in terms of design, infrastructure planning, and services, representing model neighborhoods and luxury housing away from the noise of the cities, the hustle and bustle of the streets, and traffic congestion, where the price per square meter in such neighborhoods ranges from 9,000 to 16,000 pounds, and most projects in these neighborhoods operate on an off-plan basis, with buyers receiving the keys to their residential units within 3–4 years of signing the contract and beginning their installment payments.
Egypt is seeking to establish smart and sustainable partnerships with major companies in the region across various sectors, such as «Majid Al Futtaim» in the field of tourism and marketing investment, Statistics from the General Authority for Investment and Free Zones confirm the attractiveness of the Egyptian market to Saudi companies—numbering 4,309 and operating in various sectors— with a capital exceeding $7,218 billion, including 784 Saudi companies in the construction sector and 322 in the tourism sector; the Kingdom ranks second among countries investing in Egypt.
As a result of this international interest, Egypt’s real estate sector has managed to withstand the shocks facing the country’s economy and has transcended its conservative image to become the most influential and dynamic sector, moving toward growth, prosperity, and recovery—in contrast to the Egyptian economy as a whole, which has continued to struggle across most of its sectors, affirming its leadership and significant influence through the active support it receives from government agencies, officials’ encouragement of investment in the sector, and their consistent presence at various real estate forums.
