CBK launches first exhibition for ready-to-move units in Egypt

Daily News Egypt
4 Min Read

CBK has announced the launch of the Ready to Move (RTM) exhibition, the first real estate exhibition in Egypt for residential, commercial, and administrative ready-to-move units.

The exhibition will be held on 4-6 May, at Egypt International Exhibition Center, with the participation of real estate developers in Egypt, and financial institutions to showcase the latest ready-to-move projects and different financing mechanisms for the exhibition’s visitors.

RTM will bring together the largest integrated urban projects in Egypt under one roof, making it easier for visitors to compare the offered projects and select what suits their financial plans, CBK has said.

In press release the company noted, “Through a wide variety of residential, commercial, and administrative ready-to-move units in major development projects across multiple cities; RTM Exhibition aims to meet the demand of customers who wish to buy units and move immediately or invest in ready-to-move units and achieve appropriate revenue, instead of taking the risk of waiting for long periods for delivery date.”

Bassem Kalila, CEO of CBK for Organizing Events and Exhibitions stated,  “Sustaining the growth of the Egyptian real estate sector requires organizing real estate exhibitions inside and outside Egypt to increase real estate sales and encourage real estate development companies to pump new investments and provide more job opportunities. We aim through launching RTM to contribute to achieving this goal and consequently meet the demand for those interested in purchasing ready-to-delivery units.”

Kalila added that there are two main reasons behind the high demand for ready-to-move units; the first is attributed to the customers’ desire for immediate purchase to save monthly rental expenses, as well as saving down payment costs.

He explained that customers prefer to pay a down payment of 20% and move, instead of paying 50% until delivery in the case of off-plan purchase. While the second reason lies in the customers’ willingness to invest aiming to attain an immediate return, considering the increasing growth of investment in the real estate sector as a safe haven for savings.

Karim Zein, Managing Director of CBK, said: “CBK decided to debut its operations by organizing the premier edition of RTM exhibition, the first of its kind in Egypt for residential, commercial, and administrative ready-to-move units. RTM launch comes after a comprehensive market study to identify the expectations and needs of the local market in this regard, considering all aspects of customers’ needs. In addition, the exhibition will provide real estate development companies with a huge space to display their latest projects.”

CBK launches RTM leveraging the company’s portfolio and the contributors’ extensive experience in holding exhibitions and real estate services. CBK was established through an alliance between Kalila Business Group and Coldwell Banker. Kalila Business Group is the owner and organizer of Nile Property Expo, the Egyptian real estate exhibition abroad, specializing in exporting Egyptian real estate since 2017. The expo succeeded, through 8 consecutive editions in Abu Dhabi, Dubai, Riyadh, and Jeddah, to achieve sales exceeding EGP 8 billion for the participating companies. Moreover, Coldwell Banker is the world’s leading full-service real estate provider incubating the largest massive customer database in Egypt, and the highest-selling marketing real-estate company in Egypt.

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