The 10th edition of the in-person Cityscape Egypt exhibition was officially inaugurated today (September 22) in line with the first batch of the government employees, including 40,000 begin to move into Cairo’s much-anticipated NEW ADMINISTRATIVE CAPITAL, one of the new ‘smart cities’ transforming the real estate space in the country.
Egypt’s emerging new real estate landscape will be in full view over the next four days as Cityscape Egypt, the country’s most prestigious and influential real estate investment, development, and networking event kicks off at the Egypt International Exhibition Center (EIEC).
Over the course of the event, industry players will also highlight a change in buyer preference and a growth in demand for space over luxury. Exhibitors say change will be a major feature as developers adapt to the country’s shifting real estate dynamics and the increased demand for luxury over space from investors in the post-pandemic world.
AKAM Developments, which showcased its recently launched new projects Scenario and Scene 7, expects good sales at its third participation of Cityscape Egypt to be largely driven by a positive market sentiment.
“The country’s developers are confident in the re-emergence of the sector post-pandemic,” said Mohamed El-Khouly, Marketing Director of AKAM Developments.
Echoing El-Khouly’s statement, Living Yards’ Andrew Ehab said full recovery could be in sight “in a year”, with more affordable homes in the new cities being a key market driver but stressed the need for support through extended payment plans.
With Egypt’s new cities opportunities reigniting buyer’s interest, there is potential for a buying spree at Cityscape Egypt. Chris Speller, Group Director of Cityscape, said: “Developers are seeking to push the market forward and are out to offer exclusive incentives at the exhibition. The next four days will give buyers the chance to review all offers and projects under one roof and to seize special offers and payment plans which may not be around too long as the recovery evolves.”
Cityscape Egypt is supported by Egypt’s Ministry of Housing, Communities and Urban Development and Master Sponsor, Mostakbal City; Platinum Sponsor, Sorouh Developments; and Visitor Registration Sponsor, Sky Abu Dhabi Developments.
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