Surge in demand for Egypt’s new cities
Investors & homebuyers prove voracious appetite for property in the country with rising interest in the country’s new cities
31 October 2018, Cairo, Egypt: A healthy mix of investor interest, new developers and a surge in interest in Egypt’s New Administrative Capital, were among the major themes following the conclusion of this year’s NextMove Egypt, powered by Cityscape.
The three-day show, which increased by 16% on net sqm from 2017, took place at the Egypt International Exhibition Center (EIEC) in Mehwar Almosheer Tantawy in New Cairo earlier this month, and saw developers from across the country tout Egypt’s real estate prowess with offerings in the residential, hospitality and commercial sector.
With Old Cairo’s population around 19 million, Egypt has taken substantial strides to create new metropolises and satellite cities. These new cities garnered significant interest from investors and homebuyers looking for new opportunities at the show this year, especially those looking at Egypt’s New Administrative Capital.
Once completed the New Capital is expected to accommodate more than 5 million people, house Africa’s tallest tower, and will be the financial as well as administrative capital of the country, intended to stimulate the economy by offering thousands of jobs.
According to experts, demand for housing is likely to be strong in new cities due to affordable prices, and the promise of a cleaner, greener and more sustainable way of life. Cairo’s population is expected to hit 40 million by 2050 and competition for housing is fierce in the current capital, says real estate consultant JLL, explaining the need for residents to look at new cities.
This year’s NextMove Egypt saw developers from the New Administrative Capital place a strong emphasis on lifestyle and community living, a popular trend in the Egyptian residential market. Exhibitors showcased neighbourhoods complete with community retail facilities, as well as education and healthcare facilities, a selling point for many first-time homeowners.
Exhibitor Safwa Urban Development (SUD) showcased project Capital Heights from the New Capital and projects in Obour City. While Master Group, NextMove Egypt’s Silver Sponsors, showcased The City project in the New Capital, which is in close proximity to the Opera House and the highly-anticipated Green River, a combination of open water and planted greenery twice the size of New York’s Central Park.
La Verde, Akam Developments, MBG Developments, and Living Yards were also among the developers to showcase projects from the New Capital.
“Cairo’s population alone is growing at an average rate of 2.4% per year, this means that the appetite for property will continue to rise driving our exhibitors to launch projects that speak directly to this demand by offering much-needed housing across all price points,” says Chris Speller, Cityscape Group Director.
NextMove Egypt returns to the Egypt International Exhibition Center (EIEC) next year from October 24 – 26 October.
Continued growth for housing market
Developer to showcase the world’s largest residential building at NextMove Egypt
9 October 2018, Cairo, Egypt: Prompted by the rise in demand for residential communities with integrated retail, leisure and entertainment facilities, real estate developers at this year’s NextMove Egypt, powered by Cityscape, are ramping up efforts to entice potential homebuyers with a range of apartments, villas and townhouses in new mixed-use developments.
Opening its doors on the 18th October and running until the 20th at the Egypt International Exhibition Centre (EIEC) in Mehwar Almosheer Tantawy in New Cairo, NextMove Egypt, powered by Cityscape, will reveal hundreds of real estate investment opportunities for prospective buyers and investors across all price points, offered with attractive payment plans and down payments.
Omar Al Morshedy, Marketing Director at Memaar al Morshedy, one of the exhibitors at this NextMove says that homebuyers are always on the lookout for location, prices, developer reputation, instalment plans, and options on a range of spaces and down payments.
The company will be capturing the attention of visitors to the show this year with its latest project Skyline, expected to be the world’s largest residential building once completed. The building is expected to occupy 200,000 sqm and will be built over a seven-year period, with the first phase expected to be ready in three and a half years. The town-like complex will be established in Maadi, Cairo, and will offer its residents entertainment and dining experiences from a hyper market to ice skating and cinemas, while also housing offices.
“The real estate market is looking brighter than ever, and the market is stable. For potential homebuyers, the main factor that affects them is the price and location,” said Morshedy, adding that they always aim to offer clients the best value and competitive prices.
The company also plans on showing projects in 6th of October City, Nasr City, Maadi, Ring Road and Kattameya.
According to Oxford Business Group, the first and second quarter of 2017 saw the pound stabilising, FDI rise and economic reform translating into greater certainty in the sector, with developers continuing with existing projects and launching new and innovative ones. In addition, new metropolises and expanding satellite cities in the country is expected to absorb population growth and reduce densities in Central Cairo. NextMove exhibitors will be showing just a few of these projects at the show this year.
“The government and the private sector have major plans for the real estate sector over the next few years, for both local and foreign investors. The appetite for property remains substantial, with experts revealing property represents around a third to half of Egyptian families’ wealth within middle and high-income levels,” says Chris Speller, Cityscape Group Director.
“The demand for middle-income housing in Egypt remains a central issue, and what NextMove Egypt aims to do is connect the country’s residential developers with potential homebuyers. In addition, the rise in consumer confidence and attractive payment plans at the show all point to NextMove Egypt being ideally positioned to facilitate real estate investment,” he added.
This year’s exhibitors also include Porto Vacation Club (Amer Group), Living Yards Developments, Safwa Urban Development (SUD), Zahraa El Maadi Investment & Development Co., La Mirada, and many more.
NextMove Egypt, powered by Cityscape, is supported by Platinum Sponsor Next Home, and Silver Sponsors; Master Group and Contact Mortgage Finance.
For more information visit: https://www.nextmoveegypt.com/en/home.html.
Developers reveal plans for Egypt’s real estate sector
Smart homes, villas in serene communities, and apartments in towering buildings to be revealed at this year’s NextMove Egypt
25 September 2018, Cairo, Egypt: Driven by a rebound in the economy, developers at this year’s NextMove Egypt, powered by Cityscape, will reveal plans for the Egyptian real estate sector over the next few years.
Egypt is witnessing a dramatic turnaround after shaking off economic hardships and a stagnant real estate market over the last two years. Today, the country is building new metropolises, expanding its popular coastal developments and was recently named the most attractive investment destination in Africa for 2019, according to Rand Merchant Bank’s Where to Invest in Africa.
Amid this positive climate, NextMove exhibitors are preparing to launch a range of diverse projects in popular coastal areas and in the country’s newest cities. Taking place from October 18th – 20th at the Egypt International Exhibition Centre (EIEC), in Mehwar Almosheer Tantawy in New Cairo, homebuyers and investors will have the unique opportunity to gain insight into exhibitors’ plans for the real estate sector and capitalise on competitive payment plans, which include special offers and discount prices on townhouses, villas, apartments, and coastal homes across the country.
Here are some of the projects that visitors can get a glimpse of this year:
Palm Zahraa – Exhibitor, Zahraa El Maadi Investment & Development will showcase its residential project Palm Zaharaa in Maadi, Zahraa Maadi. The residential project is near a full range of amenities including social clubs, sport and entertainment centres, and schools. The developer will be offering a 10% down payment and a payment plan which extends over 10-years.
Perla – Located in 6th October, this residential project from exhibitor Brickzey Property Management, features high-rise towers, a private park, social hub, children’s area, medical services and a shopping mall. The project will be completed in 2020.
Smart Life – These fully furnished apartments in New Cairo from developer IC Group features apartments and duplexes equipped with smart home systems and a variety of facilities.
Elite New Capital – Located in the New Capital from exhibitor Landmark for Real Estate Investments, Elite New Capital includes commercial real estate opportunities. The developer will include a 5% discount, 6-year payment instalments, and a 2% minimum payment.
Porto Vacation Club – With projects located in the North Coast, El Ein-Sokhna & Marsa Matrouh, Porto Vacation Club will showcase a range of their coastal properties.
“Housing has always been at the top of the policy agenda for citizens, and developers are speaking to this demand,” says Chris Speller, Cityscape Group Director. “We’re witnessing a rebound in the market and at this year’s show we’ll see this rebound on the show floor with new projects that are pushing the boundaries of the real estate sector.”
This year’s exhibitors include: Upturn Real Estate, Laverde Egypt, Memaar El Morshedy, Azure Architects, Living Yards Developments, Edge Holding and many more.
NextMove Egypt powered by Cityscape is supported by Silver Sponsors: Master Group and Contact Mortgage Finance. For more information visit: https://www.nextmoveegypt.com/en/home.html.
DEVELOPERS TO REVEAL FUTURE OF EGYPT REAL ESTATE
Developers to speak to the demand from millennials at NextMove Egypt, powered by Cityscape
9 September 2018, Cairo, Egypt: An array of affordable apartment complexes, coastal residences and ultra-modern villas will be showcased at this year’s NextMove Egypt, powered by Cityscape, as developers speak to the rising demand from millennials and reveal the future of Egypt’s residential sector.
As the residential sales sector improves, experts maintain that healthy sales in the market reflect the demand from millennials who are now entering the prime home buying age. According to the American Chamber of Commerce in Egypt, millennials – a generation that makes up almost 40% of Egypt’s population and more than 90% of the current workforce – are driving the demand for real estate in the country.
“Because of their sheer volume, millennials have a major impact on consumption and spending, making them an important engine of the economy. And the first wave of this generation, those in the 25-35 age group, are in their prime home-buying years,” notes the American Chamber of Commerce in Egypt.
This year’s NextMove Egypt, powered by Cityscape will see real estate developers speak directly to the millennial demand as they showcase some of the country’s latest and most popular real estate developments. Taking place from October 18th – 20th at the Egypt International Exhibition Centre (EIEC), in Mehwar Almosheer Tantawy in New Cairo, the event will feature a diverse range of projects from across the country that appeals to first-time homebuyers, investors, and visitors looking for vacation homes in coastal prime areas. Visitors will be able to avail a multitude of affordable real estate opportunities on competitive payment plans, which include special offers and discount prices on townhouses, villas, apartments, and coastal homes across the country.
“Elevated investor interest and a new generation of eager homebuyers looking for a variety of real estate options is bound to make NextMove Egypt one of the most influential property shows in Cairo,” says Chris Speller, Cityscape Group Director.
According to exhibitor Safwa Urban Development (SUD), the majority of their projects to be showcased at the event are located in the New Capital – a city that has garnered significant interest among millennials – and Obour City. Once completed the New Capital is expected to accommodate 5 million people and will be the financial as well as administrative capital of the country and is intended to stimulate the economy by offering thousands of jobs.
Marketing Director at SUD, Ahmed Nabil Amer says the company will showcase residential project Capital Heights 2, and The Hub, a new mall, both located in the New Capital. In addition, SUD will launch its brand new commercial project at this year’s show in Obour City.
“For homebuyers and investors attending the show, we believe that it’s important for them to find investments that are in attractive destinations and can guarantee them a high ROI,” says Amer. “We will also be offering a 0% down payment and up to a 7-year-installment with 0% interest and a discount of up to 200,000 EGP for some units.”
Master Group, NextMove Egypt’s Silver Sponsors, will be showcasing The City Project in the New Capital, which is in close proximity to the Opera House and the highly-anticipated Green River, a combination of open water and planted greenery twice the size of New York’s Central Park.
According to the developer, the project features all buildings from apartments, duplex, penthouses, stand-alone villas, gardens and lakes. It also includes City Square, which consists of various F&B options, a shopping mall, medical centre, social club, and dancing fountain.
Exhibitors this year includes, La Mirada, PUKKA, Memaar El Morshedy, El Batal, Living Yards (The Loft) Akam Developments, Edge Holding, Next Home, Porto Vacation Club, Surouh and many more.
DEVELOPERS TO UNVEIL EGYPT’S TOP RESIDENTIAL COMMUNITIES
Developers to showcase a range of apartments, villas, townhouses and vacation homes at NextMove Egypt, powered by Cityscape Egypt
With consumer confidence returning to Egypt’s residential sector, Egyptians are on the lookout for their next real estate opportunity.
According to experts, it’s a positive investment climate with the residential sector witnessing an uplift and the country’s GDP growth expected to accelerate to 5.3%. As a result, developers are responding by continuing with existing projects and launching several new ones.
These developers will showcase their latest projects at this year’s NextMove Egypt, powered by Cityscape Egypt, from October 18th – 20th at the Egypt International Exhibition Centre (EIEC), in Mehwar Almosheer Tantawy in New Cairo. The event will feature a diverse range of projects from across the country that appeals to first-time homebuyers, investors, and visitors looking for vacation homes in coastal prime areas. Visitors will be able to avail a multitude of affordable real estate opportunities on competitive payment plans, which include special offers and discount prices on townhouses, villas, apartments, and coastal homes across Egypt.
“Buyers are traditionally looking for apartment units, townhouses or villas in areas that are close to places of work, schools, retail and hospitals; and this year our diverse range of developers will be offering these types of properties to visitors with flexible payment plans and affordable prices,” said Chris Speller, Cityscape Group Director. “Many homebuyers are now also looking at the capital’s most promising areas as Cairo expands its metropolis. The latest in the growing list of suburban cities is the New Capital City and New Cairo; some of the areas which will headline this year’s NextMove Egypt,” he added.
The elevated interest from major investors and developers suggests the residential sector is picking up and there are indications of an improvement. According to property consultant JLL, increased investor confidence is evident in the residential market and developers are reporting positive sales performances of the New Capital City, driven by a demand from millennials and the country’s rapidly growing population.
“The ongoing positive sentiment and strong performance across most sectors continue to provide attractive market conditions for further investment, in line with the governments ongoing focus on economic development,” says JLL.
This year’s exhibitors will include Porto Vacation Club (Amer Group), Housing Development Real Estate Investment Company, Uni Estate Egypt LLEE, Azure Architects, Le Mirada, and Zahraa El Maadi to name a few.
About NextMove Egypt:
NextMove Egypt, powered by Cityscape, takes place from the 18 – 20 October at the Egypt International Exhibition Centre (EIEC), in Mehwar Almosheer Tantawy in New Cairo. NextMove Egypt will showcase hundreds of real estate projects from across Egypt, offering homebuyers and investors the ideal platform to secure their next townhouse, villa or apartment. NextMove is powered by Cityscape, which launched in 2002 and has since grown to be the largest real estate event brand globally. Cityscape has welcomed over 500,000 real estate professionals and investors from over 160 countries.
For more information visit: https://www.nextmoveegypt.com/en/home.html.
