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‘CityScape 2017’ Revives Real Estate Sector in Egypt | ASHARQ AL-AWSAT English Archive 2005 -2017
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A general view of residential buildings under construction in El Katameya district of New Cairo. (Reuters)

Cairo – The Egyptian capital hosted the four-day “CityScape Egypt 2017” real estate exhibit from March 31 to April 3, bringing together more than 90 real estate developers.

Held at the Cairo International Convention Center, the exhibit saw the attendance of thousands of visitors, investors, and house seekers. The sixth edition of the biggest real estate exhibition in Egypt offered chances to learn about the most important projects in Cairo’s luxurious neighborhoods and the Mediterranean and Red Sea coasts.

The exhibition was preceded by a two-day conference that saw a heavy attendance by experts, researchers, civic planners and governmental officials to discuss the sector’s developments and the trends in the Egyptian real estate market.

Egyptian Housing, Utilities and Urban Development Minister Mostafa Madbouly opened CityScape on Friday and visited its different pavilions to learn about the latest projects offered in the market. He also met with representatives of major companies partaking in the event, praising their efforts to develop and promote the sector.

Madbouly expressed his satisfaction over the growth of real estate projects and the expansions led by developers that suit all clients in the market. YouGov (partner in CityScape Egypt) stressed that investors’ trust in the Egyptian real estate market has witnessed a surge in the recent period.

For his part, Tom Rhodes, exhibition director for Cityscape 2017, revealed a wide collection of options on offer to meet the increasing demand to own units located in integrated urban communities. He also stressed the importance of visiting the exhibition to learn about the opportunities offered for investors and property seekers, especially amid the increasing population in the country.

One of the companies that participated in the exhibition, “Hyde Park Company”, revealed details about the second phase of its “the Park Corners” project that will be complete within three years. This project includes 1,000 residential units comprising villas, residential houses, duplexes and apartments, and a number of amenities like a club, garden and medical complex.

ARCO Egypt also unveiled three projects: “Compound La Fontaine”, “City Stars” and “La Vend”. “Compound La Fontaine” will include many modern amenities, like a covered heated swimming pool, solar power electricity and green spaces.

According to GLL Real Estate Partners Company, many projects were announced in Egypt since the beginning of 2017, especially in the 6th of October City and New Cairo. Many developers are offering facilitated payment plans to attract buyers and reduce the impact of low purchasing power in wake of the hike in real estate units’ prices in Egyptian pound.