IREIS 2017 to Host the Largest Egyptian Property Show in UAE

The 9th edition of the International Real Estate & Investment Show brings Egypt’s leading real estate companies under one roof to highlight country’s growing real estate sector and to attract investors from various parts of the world from the 2nd to 4th November 2017 at the Abu Dhabi National Exhibition Centre (ADNEC).

Egypt’s real estate market is attracting investment inflows as it benefits from the positive side of the floatation, following the floatation of the Egyptian pound late last year. The Egyptian Pound has now stabilized at EGP 4.9 per AED, compared to 2.4 before the floatation. This has encouraged many non-resident Egyptians to invest in real estate as it meant doubling real estate investments with the same money.

The demand in the residential housing segment is accelerating alongside the country’s booming population of 95.2 million creates more opportunities for Real Estate Developers and investors. Tourism sector has also initiated interests in investment opportunities in Egypt, supporting the real estate sector. The total number of travellers from Arab countries to Egypt during the first quarter of 2017 has increased by 38.8 percent when compared to the same period last year.

Real estate advisory firm Jones Lang LaSalle (JLL) said the stabilization of the Dollar was a positive sign for a real estate industry that has attracted foreign investment inflows on the back of economic optimism. JLL said that demand was expected to pick up significantly, as security issues are being addressed, more tourism promotion campaigns are taking place, and travel bans have been removed.

The increasing demand started creating a positive vibe in the market and some of the prestigious developers start increasing prices of units at the 2nd quarter of 2017, with the expectation of a similar hike in the coming period with the increase reaching 10 to 20 per cent by the end of the year. Following the increase in unit prices in pound terms, many developers are now offering more lenient and attractive payment plans to alleviate the effect of the decrease in purchasing power.

“Egypt is very much on the GCC radar as a place to invest,” said Ian Albert, regional director for Colliers International Middle East & North Africa. “There has been a steady flow of developers from the UAE with the likes of Emaar and MAF (Majid Al Futtaim) pressing ahead with schemes there. Aside from domestic demand, which has been dampened by the devaluation, we identify that for second homes, 98 per cent of the market is purchased by Egyptians. There is interest from Kuwait, Saudi Arabia, Qatar and across the GCC as well”.

Mr. Omar Elsham, one of the Abu Dhabi residents and investor said “Despite the increasing prices from the bottom level, we will be investing in Real Estate as the value of our investments will be doubled and we are expecting an appreciation of 20 to 30% average for our investments in this year. “

MuhammedHammad, co-managing director of Propertyfinder Egypt said “Most of the investors prefer Apartments as the primary choice in the locations of 5th settlement, 6th of October City, Al Ain El SokhnaandNasr City. Villas are preferred as the second choice in the areas of New Cairo and Sheikh ZayedCity.He also stated that the other demands including New Cairo, 6 October, Sheikh Zayed City and Al Ain El Sokhna, Nasr City and Maadi districts projects.”

Antoine Georges, Managing Director of Dome Exhibitions, the organizer of the International Real Estate and Investment Show said “We are pleased to host the Egyptian Property Show as an integral part of IREIS 2017. Our objective is to incorporate a distinctive presentation of the Egyptian real estate market in order to reach new international and local audiences. We are expecting to attract more than 2,000 High Net-Worth Egyptian Investors and 8,000 Arab Investors to the show , to take advantage from the market potential and join business networking, direct meets and visit and win promotion during the three-day event.”

Dony Cyril, Exhibitions Director said, “Egyptian Property Show@ IREIS gives  more privilege and reach to attract other Arab and International investorsasROI predicted is multiple times of their investments within a short period. “Mr. Cyril also discussed the investment preference of UAE residents, saying, “Feedback from investors shows that this is the perfect time for local and international investors to enter intotheEgyptian market as Egypt offers low property prices, high year-on-year capital appreciation and great potential returns on investment.”

Mr. Cyril explained that the team had several meetings with major developers in Egypt and received an overwhelming response to participate in Egyptian Property Show @ IREIS for an opportunity to tap the market potential. The specialized exhibition will convene developers and agents from major cities in Egypt to showcase the country’s variety of luxury, residential and commercial properties. Special offers and exclusive instalment schemes offered by major developers with spot booking benefits will attract more investors and provides more value for the purchases during the 3-day event. Property consultants and financial institutions will also be at hand to provide potential buyers with expertise on the latest market trends and suitable bank housing offers.

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