Housing Minister inaugurates Cityscape Egypt/Next Move

In his opening speech the Minister praised the organizers of the leading exhibition, the first strategic move to support the Egyptian economy after the revolution, highlighting the developmental role of Cityscape Egypt in reconnecting the Egyptian market with other Arab and international markets, and expressed his optimism for the future of Egypt's real estate sector.

After visiting the exhibition the Minister addressed the audience at the Egypt Real Estate Summit, one of the many networking and knowledge sharing features of event designed for industry professionals. The Housing Minister emphasized the importance of the Ministry to endorse a platform that addresses the most pertinent issues on real estate and focuses on strategies to attract both local and international investment into the sector. He assured the strength of the Egyptian economy to face any disorder, highlighting the fact that the companies within the industry were still strong despite the slow activity in other sectors over the last year.

El-Baradei affirmed that the next stage will witness huge developments for the real estate market which will reflect the strong position of the sector in the economic wheel, adding the government's position in terms of land prices and legal issues is focused on keeping both country and investors' rights.

He assured that investment in this sector will remain the most attractive for all global and local investors despite the problems facing the whole economy, adding that he is always receiving demands and studies from foreign investors concerning projects in Egypt.

He said that projects initiated by the Ministry, in cooperation with the private sector, will serve those of a low income level such as the million homes project, adding that these kind of projects realize more social equity and assuring that the government will be a great supporter.

In his main message at the Summit, the Minister stressed that holding such an event at this time is a positive sign of the real estate market in Egypt and would have a major role in stimulating and supporting the sector in Egypt and attracting new investments through conferences, workshops and roundtables. He added that the government supports foreign investment from the Arab sector, especially since real estate is full of diverse investment opportunities after the revolution.

Cityscape Egypt is one the most successful exhibitions in the Middle East. Several important activities are taking place during the event including two dedicated conferences focusing on the real estate and retail real estate industry, the investor round tables and the Cityscape Awards for Real Estate in Egypt Gala Dinner presented by Emaar.

Emaar Misr, the wholly owned subsidiary of Emaar PJSC, is the main sponsor of the Cityscape Awards for Real Estate in Egypt Gala Dinner, a move that came about due to the company's belief in the importance of highlighting the Egyptian real estate industry and recognizing (quality of design, development and construction in the real estate sector). Commenting on the awards, Hazem Ashry, Emaar Misr's General Manager, stated that Emaar Misr had enjoyed a record year during 2011, and so it was important for the company to promote and support the Egyptian real estate market by sponsoring this important ceremony.

The Cityscape Awards for Real Estate in Egypt Gala Dinner will take place on 21 February at a prestigious venue in Cairo.