Egyptian property market

The "Next Move" Exhibition scheduled for April in Cairo is expected to showcase $10 billion worth of properties and will be a testament to the massive amount of prospects available to someone wanting to invest in Egyptian real estate.

The 'Next Move' Exhibition is a large scale event being held at the Cairo International Conference Centre that will showcase approximately $10 billion worth in property and development projects, both residential and commercial. Organised by ACG-ITF, Egypt's largest exhibition and event organiser in association with Lead Marketing Solutions, is in a position to become the one of the more important and significant regional events for the property investment sector in Egypt.

Many companies are looking to get their piece of the pie in this property boom with companies from nearby areas such as Tamweel accelerating their operations in Egypt to get in as early as possible.

As stated by Ahmed Ghozzi, ACG-ITF chairman and CEO, "We believe that the healthy state of Egypt's property sector is a fair indicator of the country's economic progress and market maturity. The growth in Egypt's real estate sector is nothing short of a phenomenon and holds tremendous significance to the country's overall growth. Given this scenario, it was imperative to provide a platform for various property market players to come together and capitalise on market opportunities and in the process contribute to sustained growth of the industry."

Firms based in nearby countries and particularly firms headquartered in the UAE looking to expand into other countries close by seem to be interested in attending the exhibition. Tamweel, the UAE's largest provider of real estate finance, with headquarters in Dubai recently received a license from the Mortgage Finance Authority (MFA) in Egypt to bring operations in the country.

Many other companies are expanding their geographic reaches beyond the borders of their home markets to take advantage of the growing market. For many companies, the opportunity to conduct business in Egypt is a big advantage since the country is one the most popular of all the nations in the Arab world. Tamweel CEO, Wasim Saifi said, "There is a high level of pent-up demand for real estate financing in this nation of 75m and an economy that expanded by 7% last year."

It is envisaged, that many real estate development firms and property investors will be attending the Next Move Exhibition scheduled for April 16 to 19.

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