CAIRO: Chris Speller, director of Cityscape and Informa Egypt at IIR Middle East, said Cityscape Egypt participants exceeded expectations this year.
With one month to go before the event opens from Feb. 20-23, international and local real estate professionals, developers, investors, and end users are expected to attend, according to a statement, which highlighted “the government’s efforts towards solving Egypt’s post revolution real estate problems.”
Speller said Cityscape Egypt attracts real estate developers from various industry sectors by providing them with the opportunity to look into the future of real wstate and share their expertise on issues vital to the industry.
Key developers participating in the event include Talaat Mostafa Group, Palm Hills, Ocean Blue, Moharram.Bakhoum, Citystars, SODIC, Heide Park (DAMAC), Al Ahly For Real Estate, Peter Home, Al-Futtaim Group, Emaar Misr for Development, Orascom Hotels and Development, Tiba, Rooya group, Memaar Al Morshedy and Mac Tourism Company (the owner of the Emirates Heights project).
Cityscape Egypt will also host real estate agents including Coldwell Banker and Dar Al Zain along with mortgage companies such as Al Ahly, Sakan and Egyptian Housing Finance Company. The exhibition and conference incorporates financial institutions, sovereign wealth funds and risk investment firms including the World Bank, JP Morgan and others.
Speller said in the statement that Cityscape Egypt will examine the latest trends in real estate market development aiming at bridging the supply demand gap on affordable housing projects. He added that Cityscape Egypt focuses on the residential needs of the middle class households.
“The Egyptian real estate market has gone through a lot of changes since the January 25 revolution. The growing demand on housing will restore confidence in the sector. Especially after the successful completion of the parliamentary elections, and the government’s attempts to formulate solutions for Egypt’s chronic land allocation real estate problems and disputes of 17 companies operating in the private sector,” Speller added.
Yasser Ghazi, Lead marketing solutions CEO, said the current political and economic uncertainties pose challenges and opportunities for the Egyptian real estate sector, and that the industry requires innovation, efficiencies, transparency and stability to bring back investor confidence.
Event participants can book meetings before the event opens with the new Business Matching service.
Ahmed Ghozzi, ACG-ITF chairman and CEO, said the government’s adopted decisions will lure serious real estate and property investments to the country.