Developers attending Cityscape 2017 foresee that Egyptian economic reform has managed to present cheaper products to Egyptians abroad by 30% to 50% despite a decline in demand among local Egyptians, as Cityscape gears up for its upcoming exhibition, Invest-Gate reports.
Tom Rhodes Global exhibition director in Egypt inspects that the complete transformation of the Egyptian economy has renewed investors’ interest in the market; and “Cityscape Egypt is paving the way for investment opportunities during its presence in the upcoming period in Egypt,” he says. These economic changes present opportunities to foreign investors and Egyptians living abroad, eyeing the Egyptian market as Cityscape Egypt is currently hosting more than 93 regional and international exhibitors.
During the exhibition, property developer, PACT, will showcase its White Bay project, according to Cityscape’s statement. “White Bay is located in Sidi Heneish, named after the white sandy beaches in North Coast, is a mixed-use project and features a business center, retail spaces, park, spa, housekeeping, and property management,” says Ahmed Hesham, marketing and business development head at PACT.
“Local products are currently expanding and witnessing an increase in demand for being more affordable, therefore local businesses are expected to expand in the upcoming period,” states Ayman Sami, country head for the Egypt office of JLL.
Further economic impacts include a positive influence on hotels, as Egypt has become a cheap destination to expats with occupancy levels around Cairo reaching 60%, according to JLL.
Cityscape Egypt exhibition will be held on March 31 until April 3 at the Cairo International Convention Center following the conference on March 29 – 30 at the Royal Maxim Palace Kempinski. For more information, log onto www.cityscapeegypt.com