Expo Republic CEO on NPE: Egypt’s sponsorship to MIPIM 2022 matches development, mega projects
The Egyptian government issued a number of regulations in the recent years to support exporting real estate, attracting investors and foreign fund to the Egyptian market.
Among these regulations giving residence permit to foreigners who buy properties of prices varied from $100000 to $ 500000.
The residence permits lasts starting from one year to five years and renewable in case of owning a property.
The real estate exhibition held abroad is considered as one of the most important marketing mechanisms that are backed by the Egyptian state; as Egypt had sponsored many exhibitions and had a pavilion in MIPIM 2019.
Nile Property Expo (NPE) exhibitions is a model for real estate marketing in the Arab countries, meanwhile Expo Republic, the organizing company, plans to hold NPE in the foreign countries this year.
Perfect timing to invest in Egypt
NPE exhibition in KSA proves Egyptian real estate market strength
The Chairman of Expo Republic Bassem Kalila said that NPE resumed its marketing work outside Egypt since COVID-19 breakout through the exhibition held in KSA in February, as it was chosen to be the starting stop in the marketing campaign in 2022.
Kalila added that the exhibition witnessed a great turnout from the Arab clients in Riyadh and Jeddah, which reflect their real interest in investing in the real estate market in Egypt.
He noted that the turnout came as a result of the significant progress that the Egyptian market achieved over the last years, overcoming strong real estate sectors in other countries because of the political, economic and security stability in Egypt nowadays, in addition to the increase of the annual economic growth.
He elaborated that Egypt has witnessed an unprecedented progress in many economic sectors over the last seven years; as many infrastructure, roads, new cities and service projects were implemented.
He added that because of these projects Egypt becomes an attracting factor to investors around the world.
He asserted that Egypt is in an urgent need to implement projects in the housing, educational, medical and administrative sectors and many more; to meet the increasing demand and urban land expansion.
Diversity
Political, Security stability, New Cities are attraction factors to Egyptian market. Investment returns up to 25% annually
Kalila said that the Egyptian real estate sector is distinguished by a diverse range of products, as a result of the real development process that is taking place all over the country.
He added that a number of projects are currently under construction in East and West of Cairo, the North Coast, Upper Egypt and Delta, noting that these projects are varied from residential, tourism, services and hotels.
He elaborated that the high demand and low supply is considered as some opportunities to foreign investors to have long term investments with the highest returns up to 25% annually, the highest in the Middle East.
Egypt real estate marketing
We need more reforms to end bureaucracy, end registration problem
Kalila said that NPE exhibition aims to attract clients around the world to buy properties in Egypt, while mega exhibitions like “MIPIM” is targeting investment funds and big investors who are seeking investment opportunities in the Middle East.
He added that Egypt’s participation in MIPIM 2022 will be unique, because of the number of projects implemented in the New Administrative Capital (NAC), New Alamein City, in addition to the state’s stability which was praised by many international institutions.
He referred to the vital role played by exhibitions to highlight the amount of development made in Egypt and the under construction projects and the mechanisms set by the state to boots investments.
The Expo Republic chairman added that Egypt’s sponsorship to MIPIM 2022 is an important role in introducing investment opportunities in Egypt to the world.
Challenges
Exhibitions are highlighting tools on real development
Kalila asserted that the struggle of properties registration should be solved, referring to the necessity to review the current mechanisms, despite the excellent actions taken by the state in this regard to ease the process.
He said “We should put mechanisms that allow foreign investors to buy and register properties electronically from his country without the need of being physically in Egypt.”
Speaking about NPE exhibition, Kalila said the company is discussing possibilities of setting up exhibition in USA, Canada and UK to promote for the Egyptian real estate market.
He affirmed NPE exhibitions keenness to introduce the best products in the real estate market implemented by leading companies in the field.
He noted that Expo Republic is following strict regulations to guarantee the legislative conditions of the participated real estate developer in the exhibition, praising the governmental censorship on the companies in this regard in order to protect foreign clients and clients living abroad.
