Egypt Independent

Hundreds to gather for Egypt property development convention



Eng. Khaled Abbas, Deputy Housing Minister for National Projects

 

Numerous government officials, property developers, real estate investors, and financial institution representatives will gather next week for Al Mal GTM’s Real Estate Debate 2018.

The large convention by the self-described “Private Sector Think Tank for Economic Reform Policies‎” will be held for the second year running, on October 30 at the Cairo Marriot Hotel. It will feature the question “Property export strategy…what has been done, and what is required?”.

Roughly 600 attendees will come to hear talks from both the public and private sector.

State representatives will include Eng. Khaled Abbas, Deputy Housing Minister for National Projects, Mr. Serag El Din Saad, Head of Tourism Development Authority, Dr. Samia Hussein, Head of Real Estate Taxation Authority, and Mr. Mohsen Adel, Head of General Authority for Investment.

Through four sessions, the conference will examine government actions led by the Ministry of Housing, including the issuance of Real Property Registration Law No. 37 of 2018, and the Minister of Interior’s decision to permit foreign nationals Egyptian residency if they own a property or more. They will discuss to what extent these actions have helped stimulate external demand for Egyptian real estate.

Meanwhile, key representatives of the private real estate sector, and privately-owned mortgage finance firms, will discuss the competitiveness of Egypt’s property export market, main destinations and major competitors. These will include Eng. Hesham Shoukri, Chairman & CEO, Rooya Group, and Eng. Mamdouh Badr El-Din; Chairman of the Real Estate Investment Division at the Federation of the Egyptian Chambers of Commerce.

 

Eng. Mamdouh Badr El-Din; Chairman of the Real Estate Investment Division at the Federation of the Egyptian Chambers of Commerce

 

Speakers on “Appropriate financing mechanisms to make a success of property export” are Dr. Ahmed Anis, the Chairman of Mega Delta Appraisal, Mr. Sherif Hassan, Development Director at Coldwell Banker New Homes, Mr. Sherif Samy, Chairman of the National Asset Management & Investment, Mr. Sherif Wahdan, the Managing Director of East Coast Investment, Dr. Hashem El Sayed, Deputy Chairman and CEO of Egyptian Real Estate Fund.

During the convention, there will be talks between Mr. Hany Shoukry, CEO of JWT Cairo, Eng. Ayman Ismail, Chairman and CEO of DMG-Mountain View, Mr. Ayman Sami, Head of JLL Egypt office, and Mr. Amr ElKady, CEO of City Edge Developments.

They will discuss promotion instruments needed for the success of exporting real estate, and the markets that should be targeted in the first phase, as well as how to take advantage of the new projects in the North Coast to attract foreigners to Egypt.

Another topic will be the procedural, legal and logistic problems that have faced property export over the past period, and how to meet them in the light of proposals brought forward by property developers. This will be discussed by Dr. Samia Hussein, Head of Real Estate Taxation Authority, Eng. Fathallah Fawzi, Chairman of Mena for Real Estate Development Consultancy, Eng. Tarek Al-Sibai, The deputy chairperson of the New Urban Communities Authority for Real Estate and Commercial Affairs, and Mr. Ahmed El Tayebi, Chairman of Sorouh Developments.

As is well-known, real estate export activity means to promote and sell properties in external markets to individuals and foreign institutions, or even to nationals living in foreign countries, who will pay in hard currency.

Annual property export revenues amount to billions of dollars in England, France, Spain and Greece.

Al Mal GTM, a think tank related to the economic daily publication Al Mal, has been the most proactive national firm in organizing real estate conferences.

The CEOs Thoughts Conference, Government Business Dialogue Conference and Portfolio Egypt Conference have been other successful events held by the firm.