Egypt named ‘coun­try of hon­our’ at Ci­tyscape

The Gulf Today - Business - - REGION -

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’.

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