High turnout is an evidence of allure of Egypt’s property market in attracting foreign investments, says El Saidi
The first Egyptian-Saudi real estate exhibition, “The Icon Show,” concluded in Dammam, amid a large mass turnout by Egyptians expatriates in Saudi Arabia and Bahrain, in addition to a large number of Saudis interested in buying real estate in Egypt
Six major Egyptian real estate development companies participated in the exhibition and showcased their latest real estate projects for investors and individuals from Saudis, Arabs, Gulf nationals, and the Egyptian community in the KSA. The exhibition presented ready-to-move projects and others under construction and off-plan, in addition to the participation of the banking sector
Besides, the exhibition presented current and future real estate projects and investment opportunities in Egypt
The exhibition was held under the auspices of Egyptian Ministry of Housing, Utilities and Urban Communities and was organized by Infinity Phoenix for organizing exhibitions and conferences. The exhibition is the first edition of the company
The Egyptian Ministry of Housing, Utilities and Urban Communities organized an integrated set of events to exchange knowledge within an interactive environment that contributes to introducing participants to market trends, investment strategies. In addition to, announcing the latest developments in real estate sector in Egypt as a platform for government sector institutions and private companies operating in the field and wishing to highlight their services and achievements in the field of designing and managing distinct and sustainable real estate projects
Furthermore, the Ministry presented Egypt's plan for urban expansion and doubling the urban area in Egypt, and Egypt's strategy until 2052. The ministry highlighted the government’s efforts to establish integrated residential, industrial, commercial and agricultural cities, along with, establishing an integrated road network that covers all over the Republic, huge networks of water and sanitation, as well as water treatment and desalination of sea water to be attractive to Egyptian and foreign investments and to create integrated societies in the literal sense, in addition to providing job opportunities, services, schools and hospitals
Housing Ministry Spokesperson Amr Khattab said that the Ministry of Housing of Egypt enacted many laws, added that the process of land allocations for foreign investors in Egypt takes place within five days under the supervision of the Ministry.
The exhibiting companies showed various housing units that suit all tastes, namely Al Ahly Sabbour Developments, as a main sponsor of real estate sector, Amer Group, and Rivan Company presented its projects in New Administrative Capital, New Generation Developments, Capital Link Developments Mimar Real Estate Development, as well as INVEST-GATE magazine as media sponsor
For his part, CEO of Infinity Phoenix Mohamed El Saidi stated that the Icon Show Exhibition witnessed high turnout, which is a clear evidence of the attractiveness and ability of Egypt’s real estate market to attract foreign investments and compete with global investment destinations in the real estate sector, given Egypt's ease of procedures and strong legislation that protects investors, in addition to the package of government decisions it issued recently
El Saidi said that the company aims to establish three new exhibitions in the Gulf countries during 2023, which will be announced at the appropriate time, added, “We are studying places that have high purchasing power and lack the establishment of Egyptian real estate exhibitions”
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About Infinity Phoenix
Infinity Phoenix for organizing exhibitions and conferences is an Egyptian joint stock company. It has several branches in the Gulf countries, including the UAE, Riyadh and Oman. Its activities are varied in all events and forums. Moreover, the company is managed by a team that has extensive experience in managing and organizing foreign and Egyptian exhibitions, and they have great work experience in international companies. Additionally, the company has strategic relations with ministries of Housing and Trade, institutions and bodies in the Gulf countries, as well as close cooperation with a number of Gulf investors, in addition to strong relations with the largest marketing offices and companies in the Gulf and European countries
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