Media Avenue will hold the fifth edition of the Think Commercial roundtable series on 14 July, under the patronage of Assem El Gazzar, Minister of Housing, Utilities and Urban Communities.
The roundtable will discuss the affairs and developments in the real estate market under the title “The Opening of the New Administrative Capital, and a New Vision for the Real Estate Sector”.
It will be attended by officials from: the Ministry of Housing, Utilities and Urban Communities; the Ministry of Tourism and Antiquities; the Ministry of Youth and Sports; the Administrative Capital for Urban Development (ACUD) Company; and real estate developers implementing projects in the city.
The event comes in conjunction with the government’s preparations to move to the New Administrative Capital (NAC) in the near future. Real estate development companies are set to hand over residential units to buyers, for life to begin at the NAC in its integrated concept as a new community.
Since the beginning of its development, the NAC has been seen as a model for the development of a new generation of cities that the government aims to implement.
The Think Commercial 5 event will review the NAC’s developments and achievements, as well as the readiness to start government work there. It will additionally look the readiness for citizens who bought units in projects in the major national development to live there.
The roundtable will also review the service, sports, medical, entertainment, and tourism facilities in the huge project.
It will see a presentation of the experiences of real estate developers involved with the NAC, and how they have succeeded in developing their projects. It will look at the methods they have followed to achieve their goals. There will be a further presentation by engineering consultants of their vision for the project and the future of life at the NAC.
Discussions will take place on the investment opportunities offered by the project, and their impact on the real estate market in terms of supply and demand, and attracting local and foreign investments.
This will also look at the emergence of new real estate developers who started their experience in real estate development from the NAC.
In a second session of the Think Commercial 5 roundtable, a number of real estate developers will present their vision of the real estate market and how to make it more disciplined, effective, and competitive, whilst meeting consumer requirements.
The session will present developer proposals to organise the market, their initiatives in this regard, and their vision of the effects of recent government decisions.
These include preventing the sale of land in new cities except to real estate development companies, and its impact on the supply and demand process in the market and price levels.
With the renewed presidential initiatives to boost real estate finance, the Think Commercial 5 roundtable will review the activation of the mortgage market by banks and specialised companies, and the impact of the initiatives launched in this context.
Some topics related to the regulation of the market will be looked at, including the real estate development law and what it may contain of allocating sections to the marketing process, to organise it as an integral part of real estate development.