Invest-Gate held its second roundtable, named “Real Estate Tourism Development,” on October 23 under the auspices of the Minister of Housing, Utilities, and Urban Communities, covering a wide range of topics and suggesting a number of important recommendations, and these are some of the most powerful and influential quotes said by top real estate market leaders during the event:

Khaled Abbas, Deputy Minister of Housing, Utilities & Urban Development for National Projects

 

 

“We exert more efforts to acquire about 1% of real estate exports in the global market, with expectations to generate USD 5-6 bn annually equivalent to the income of the Suez Canal.”

 

 

 

 

 

 

Hussein Sabbour, Chairman of Sabbour Group

 

 

“Partnerships should be between the state and developers with a long experience, a record of successful projects, and a strong financial solvency.”

 

 

 

 

 

Fathallah Fawzy, Founder of Mena Group

 

 

“To export real estate, we collectively need to intensify all efforts to create a proper strategy that aims to increase revenue and economic growth that meets our vision.”

 

 

 

 

Hisham Shoukri, Chairman of Rooya Group

 

 

“Tourism and real estate exports are two sides of one coin. Exporting real estate is highly dependent on the tourism inflow.”

 

 

 

 

 

Amr El Kady, CEO of City Edge Developments

 

 

“An official authority should be established to promote real estate exports and handle all related issues.”

 

 

 

 

Mona El-Helw, Chief Commercial Officer of Palm Hills Developments

 

 

“Partnership with the state was a quick and strong solution to resolve the crisis of scarcity of land available for investment in real estate market. The government has to also offer lands for development in Aswan.”

 

 

 

 

Ahmed Shalaby, Managing Director and Board Member of Tatweer Misr

 

 

“ PPPs mechanism in the real estate tourism sector is not active enough, hoping to see a clear partnership module for tourism real estate projects.”

 

 

 

 

 

Waleed Mokhtar, CEO of Iwan Developments

 

 

“The government has to launch PPPs system in other areas in Greater Cairo beside new cities.”

 

 

 

 

 

Sherif Heliw, Chairman of Marseilia Group

 

 

“Egypt needs to form regulatory and registration systems for foreigners to be able to truly export real estate.”

 

 

 

 

 

Karim Helal, Country Director at Colliers International

 

 

“We should study the country’s current potential to work on what it lacks, while promoting for potential areas for investment.”

 

 

 

 

 

 

Mohamed Banany, Vice President of Coldwell Banker and Coldwell Banker New Homes

 

“Real estate should be marketed through licensed real estate marketing agents, confirming the need to study the needs of target client.”

 

 

 

 

 

Kelly Crosbie, COO of KW Panama

 

 

“This sector to tap into retirement community to export real estate, while promote for benefits of investing in real estate in specific and Egypt in general.”

 

 

 

 

Ahmed El Adawy, CEO of Inertia Group Holding

 

 

“Egypt has to launch cheap internal flights among cities to encourage development of areas away from Cairo, and thus attract potential foreign homebuyers.”

 

 

 

 

 

 

Samir El Bahrawi, Chairman of Bahrawi Investment Company

 

 

“Egypt’s real estate companies provide installments plan range from 5 to 10 years, which is not sufficient enough to attract the foreign customer.”

 

 

 

 

 

 

Abdel Nasser Taha, President of FIABCI Egypt

 

 

“We need to establish an economic base in new cities, calling for integration of projects -with all facilities needed- being marketed abroad.”