With consumer confidence returning to Egypt’s residential sector, Egyptians are on the lookout for their next real estate opportunity.
According to experts, it is a positive investment climate with the residential sector witnessing an uplift and the country’s GDP growth expected to accelerate to 5.3 percent. 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,” Speller 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.