Egypt named ‘country of honour’ at Cityscape
CAIRO: Egypt has been named the ‘country of honour’ 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 (MOU) 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 Oct.2-4, 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 honour; 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.
Cityscape Global will return to the DWTC on Oct.2, 2018 with Egypt as this year’s ‘country of honour’.