EGYPT ANNOUNCED AS COUNTRY OF HONOR AT CITYSCAPE GLOBAL

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

Dr Mustafa Madbouly, Egypt’s Minister of Housing, Utilities and Urban Communities witnessed the Memorandum of Understanding signing ceremony between Engineer Khaled Abbas, Deputy Minister of Housing 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 from 2-4 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 have joined the show’s ranks in order to boost the export of real estate.

In addition, the 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.

With its flagship IL Monte Galala and accompanying project, Fouka Bay, Tatweer Misr have set out to define the luxury residential and tourism space in Egypt.

Dr Ahmed Shalaby, CEO and Managing Director at Tatweer Misr, said: “We feel exceedingly proud to take part in Cityscape Global where Egypt is the country of honor; this is a true testament to how influential the Egyptian real estate market has become with its multitude of robust opportunities.”

Additionally, Tatweer Misr will showcase Al Mostakbal City’s “Bloomfields”, a project located on the Galala Mountain, offering premium quality services with a nurturing, vibrant community.

“We studied the area in detail, appointed entertainment companies, and partnered with experts in all fields as well as a number of service providers who offered insights along with a diverse range of options and activities that provide owners and visitors alike with a 360 life experience,” added Shalaby.

“The calibre of projects we’re seeing come out of Egypt is truly incredible and with the increase in developments being boosted by real estate organisations as well as the government, we’re eager to see what Egypt has to offer as the country of honour,” said Speller.

Other prominent companies such as MARAKEZ and City Edge Developments (CED) will also take part under the Egypt pavilion, showcasing the country’s first tower-project to reach a height of 72 metres and a range of villas, townhouses, duplexes and apartments, respectively.

Partnering with the country’s Housing and Development Bank and The New Urban Communities Authority, CED has dedicated its resources to developing a fourth generation of world class cities in Egypt in strategic locations with surrounding gated communities.

Cityscape Global returns with support from Foundation Partners: Dubai Holding and Nakheel; Platinum Sponsors: Al Marjan Island, and Elitzam Asset Management; Silver Partner: Tamleek Real Estate; and Strategic Partner: Dubai Land Department.