Al Mal GTM to hold ‘Real Estate Debate 2018’ conference
CAIRO – 24 October 2018: Engaging more than 600 real estate investors, and representatives of financial institutions and local and regional property funds, Al Mal GTM, the Private Sector Think Tank, is going to hold the 3rd Real Estate Debate 2018 Conference on Tuesday October 30th under the slogan “property export strategy… what has been done, and what is required?”.
The convention is a complement to what was achieved by last year’s 2nd Real Estate Debate Conference, which spoke of ‘property export strategy’ for the first time, in the presence of housing and investment ministers. The event has markedly prompted the government to undertake an action to ease the procedures of selling real properties to foreigners.
A broad number of the representatives of relevant State entities will speak in the conference. Among them are: Eng. Khaled Abbas, Deputy Housing Minister for National Projects, Mr. Serag El Din Saad, Head of Tourism Development Authority, Dr. Samia Hussein, Head of Real Estate Taxation Authority, and Mr. Mohsen Adel, Head of General Authority for Investment.
Over 4 sessions, the conference examines actions undertaken by the government, led by the ministry of housing, including issuance of Real Property Registration Law No. 37 of 2018, and Minister of Interior’s decision on the permissibility of residence of foreign nationals in case of owning a property or more as well as to what extent these actions have helped stimulate external demand for Egyptian real estate.
Many representatives of the private real estate sector and privately-owned mortgage finance firms will speak in the convention to discuss the competitiveness of Egypt’s property export market, main destinations and major competitors. Among those figures are: Eng. Hesham Shoukri, Chairman & CEO, Rooya Group, Eng. Mamdouh Badr El-Din; the Head of the Real Estate Investment Division at the Federation of the Egyptian Chambers of Commerce, Mr. Khalid Bahig, CEO of Coldwell Banker Egypt and Dr. Ahmed Shalaby, Managing Director of Tatweer Misr.
Among the speakers on “appropriate financing mechanisms to make a success of property export” are: Dr. Ahmed Anis, the Chairman of Mega Delta Appraisal, Mr. Sherif Hassan, Development Director at Coldwell Banker New Homes, Mr. Sherif Samy, Chairman of the National Asset Management & Investment, Mr. Sherif Wahdan, the Managing Director of East Coast Investment, Dr. Hashem El Sayed, Deputy Chairman and CEO of Egyptian Real Estate Fund, and Eng. Tarek Elgamal, Chairman of Redcon Construction.
During the convention, there will be discussions between Mr. Hany Shoukry, CEO of JWT Cairo, Eng. Ayman Ismail, Chairman and CEO of DMG-Mountain View, Mr. Ayman Sami, Head of JLL Egypt office, and Mr. Amr ElKady, CEO of City Edge Developments. They will discuss promotion instruments needed for the success of exporting real estate, and the markets that should be targeted in the first phase, as well as how to take advantage of the new projects in the North Coast to attract foreigners to Egypt.
Procedural, legal and logistic problems that have faced property export over the past period, and how to work out solutions to encounter them in the light of proposals brought forward by property developers are to be discussed by Dr. Samia Hussein, Head of Real Estate Taxation Authority and Eng. Fathallah Fawzi, Chairman of Mena for Real Estate Development Consultancy, as well as the representatives of Civil Aviation Ministry.
As is well known, real estate export activity is to promote and sell properties in external markets to individuals and foreign institutions, or even to nationals living in foreign countries, who will pay in hard currency.
Annual property export revenues worth tens of billions of dollars in England, France, Spain and Greece.
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