A large number of visitors flocked on Thursday to Al-Ahram Real Estate Exhibition (AQARI), gathering a total of 60 real estate developers targeting middle-income and low-income brackets.
The exhibition travels around the GCC region and takes place on a bi-monthly basis in different Arab countries. AQARI is being hosted at the Cairo International Convention Center until Sunday, featuring a wide variety of real estate projects.
The exhibition, which is in its 10th round, seeks to promote investments in the country’s real estate market and allow the middle-income segment to learn more about suitable and affordable real estate projects.
“AQARI is the second-largest real estate exhibition in Egypt after Cityscape and constitutes a very good opportunity for us to attract people interested in purchasing B-class properties,” Sherif el-Domyati, Marketing Director of Egyptian real estate developer Maalem Group, tells Invest-Gate.
El-Domyati expects that the exhibition will attract more visitors in the upcoming days, especially as household budgets minimize following the pound flotation and the increase in fuel prices. “About 70% of the Egyptian society is of the B- and C-classes. That is why I forecast that the exhibition will continue to attract a larger number of visitors in the coming three days,” he adds.
Some of the real estate developers participating in the exhibition are ARDIC for Real Estate Development and Investments, Oriental Urban Development (OUD), Heliopolis Developers Group, First Group, Marseilia Group, Tabarak Holding, among others.
Mahmoud Saeed, Account Manager of Al-Ahram Advertising Agency, says that these kinds of exhibitions hold significant importance at the moment given the fact that top real estate developers including Emaar, SODIC, Palm Hills and Mountain View are now setting their sights on Egyptian expats and foreigners, particularly after the EGP flotation.
“Leading real estate developers are now launching high-end residential projects in order to make profits. That is why exhibitions like AQARI, allowing the middle-class segment to find suitable residential projects, are very important now,” he tells Invest-Gate.