Egypt’s Real Estate Market Tools to Overcome Running Economic Crises

 

Egypt’s Real Estate Market Tools to Overcome Running Economic Crises 

Opening its series of roundtables over 2023, Invest-Gate is to hold a roundtable, in collaboration with the Egyptian Businessmen’s Association (EBA), shedding light on recent global economic crises and how they affected the performance of Egypt’s real estate market. The roundtable will take place on January 31st, 2023 at 09:00 am in the Nile Ritz Carlton. Hosting prominent experts in the Egyptian real estate sector, the roundtable carries the title “Egypt’s Real Estate Market Vs. Economic Crises”

Egypt’s real estate market saw several challenges over 2022, including increases in the prices of raw materials, the Russia-Ukraine war, spiking inflation, and the further depreciation of the local currency. Such factors have resulted in an increase in the price or even the non-availability of building materials, in addition to affecting people’s purchasing power. However, the sector managed to get over these crises with minimal losses, and proved its ability to overcome and confront all crises

The roundtable is divided into two sessions, titled “Tools to Overcome Crises.” Both sessions will be moderated by Fathallah Fawzy, Vice Chairman of the EBA and Chairman of the Real Estate Development and Contracting Committee

The speakers are: Khaled Abbas, Chairman and Managing Director of the Administrative Capital For Urban Development (ACUD), Waleed Abbas, Assistant Minister of Housing for the Affairs of the New Urban Communities Authority (NUCA), Sherif Hammouda, Chairman of GV Group, Tarek Shoukry, Chairperson of the Real Estate Development Industry Chamber and Deputy of the Housing Committee in the House of Representatives, Mohie Farag, Chairman of Upwyde Developments, Ahmed Mansour, CEO of cred, Omar El Tayebi, Chief Operating Officer of The Land Developers, Maha Abdel Razek, CEO of Misr Real Estate Assets Management , Ahmed Amin Massoud, Chairman of Menassat Developments, Mohamed Alsaidi, Partner and CEO of Infinity Phoenix, Omar Attaby, CEO of Attaby Consultancy, Mohamed Elwi, CEO of Housing & Development Properties (HDP), Mohamed Taher, Chairman of Nile Developments, Mohamed Galal, Chairman of TSM Asset Management Real Estate Development, Amad Almsaodi, CEO of Aqarmap, Mohamed Banany, Managing Director of Real Estate Domain (RED), Hisham Moussa, CEO of REDCON for Offices and Commercial Centres, Tarek Bahaa, CEO of MENA Real Estate Development Consultancy, Bedeir Rizk, CEO of PARAGON Developments, and Waleed Morsy, Chairman of DCI Plus Architects Office Consultant 

The roundtable aims at presenting and exchanging visions on the economic crises that affected the market’s performance over the year, in addition to providing solutions to overcome these crises. This is represented in the government’s role in offering solutions, including fixing building and construction materials’ prices for a period of time until completing the existing projects, fixing steel prices, and drafting laws to regulate the market, in addition to providing new facilities on mortgage finance to add more segments 

Real estate experts will discuss developers’ role in terms of preparing market studies and feasibility studies dealing with the current economic crises, and developing plans to confront financing problems. This comes along with companies’ flexibility to deal with the running economic crises to support customers’ purchasing power, studying the possibility of offering longer payment methods, and finding solutions to overcome the fluctuation and stagnations in buying and selling processes

During the event, experts will also discuss the banking sector’s role to face the crises. This is represented in finding new financing solutions, whether for the developer or the customer, to support and revitalize the market, finding solutions to support developers overcoming the currency devaluation, and launching new programs to boost the purchasing power

Further, experts will tackle the contracting sector’s role in terms of finding solutions to face the price increase of building materials, offering long-term payment methods for resale units, and finding creative solutions to overcome the recession that the resale market is experiencing

The roundtable is sponsored by GV Group, Upwyde Developments, cred, The Land Developers (TLD), Misr Real Estate Assets Management, Menassat Developments, The Icon Show, and Attaby Consultancy

Our media partners include Aleqaria, Al Borsa News, Daily News Egypt, Aqarmap, Osoul Misr Magazine, Bloom Gate, El Gedaan Real Estate, Eleqtisade News, Elli Bana Masr Program, and Property Plus