The International Property Show (IPS), the Middle East’s biggest property sales platform for local and international real estate market, was held for the first time in Egypt from January 10 to 13, under the auspices of Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly.

With the participation of Dubai Land Department (DLD) and Saudi Wafi Program as strategic partners, the four-day exhibition has assembled key real estate exhibitors from diverse sectors, with the participation of nearly ten property developers from Arab and European countries such as Orientals for Urban Development (OUD), Mountain View, and SAK Developments.

The exhibition achieved a sales volume of EGP 430 mn during the four-day event, according to a statement.

IPS Egypt was deemed an optimum opportunity for sales and purchases for both local and international properties by providing an ideal platform for investors and homebuyers, while offering visitors exclusive packages and prices for several commercial and residential projects founded in new cities such as the New Administrative Capital (NAC), New Cairo, New Alamein, among others.

Hosted at New Cairo’s Egypt International Exhibition Center (EIEC), IPS Egypt was organized by UAE’s Strategic Company for Organizing Exhibitions and MREC Integrated Real Estate Services, witnessing a considerable turnout of local and foreign investors.

On the sidelines of the event, Egypt’s Real Estate Development Chamber at Federation of Egyptian Industries (FEI) has signed a cooperation protocol with DLD to promote mutual real estate investments among developers in both countries.

The deal was inked by Head of FEI Tarek Shoukri and Majida Ali Rashid, assistant director general and head of the Real Estate Investment Management and Promotion Center, the investment arm of DLD, stipulating the cooperation in the legal aspect to study the various legislations regulating the real estate sector in Egypt and the UAE, while sharing their experiences in this regard.

The signing of the agreement was witnessed by Deputy Minister of Housing for National Projects Khaled Abbas, who also attended the property show and hailed the state’s and developers’ efforts in providing a wide range of development projects across the North African nation.

“There is a large supply of units and projects offered by property developers, aimed at fulfilling the increasing demand for real estate in Egypt, which has reached 30% during 2018 only,” Abbas told reporters during the show.

Following Egypt’s event, IPS will kick off in Jeddah on February 25, with the participation of major Egyptian companies for the first time after years of absence in Saudi Arabia, which is considered a vital move to Egyptian real estate industry as it will shed light on the distinct investment opportunities available in the market.