Cityscape Egypt Jump Starts Post-Corona Real Estate Market With High Turnout

Cityscape Egypt Jump Starts Post-Corona Real Estate Market With High Turnout

Interviews by Shaimaa Ibrahim

Powered by Informa Markets, Cityscape Egypt, the most influential property exhibition nationwide, returned from November 4 to 7 and marked the largest-ever edition of the show for hosting more than 50 of the country’s top exhibitors, serving as a catalyst to jump-start the local real estate sector after the novel Coronavirus crisis put a dent into the all-important events business.

Many of the country’s foremost real estate developers and agents put forth exclusive Cityscape discounts and offers across developments that span Egypt’s most desirable locations, namely the New Administrative Capital (NAC), east and west Cairo, on top of the Red Sea and North Coast.

Cityscape visitors got exclusive access to offers such as interest-free payments and big discounts of up to 40% off when purchasing some tailor-made ready-to-move-in properties in cash. Other developers increased monthly payments to be paid over 12 instead of 10 years, in addition to lowering upfronts to provide some top-of-the-line zero-down deals.

Not only that, but the participating real estate companies also seized the long-awaited opportunity of reaching out to numerous buyers under one roof – while keeping the social distance – by introducing brand-new compounds and phases of ongoing property projects across the North African nation.

Perhaps that is why the ninth edition of Cityscape Egypt welcomed an influx of potential buyers and investors in search of the latest investment grabs and exclusive deals. During the four-day event, visitors evince keen interest in projects offered by the diverse range of realty players on board, including private and government-backed developers.

Mervat Ahmed, a 43-year-old private engineer, says her first-ever visit to the property show came as she looks for an affordable second home on the North Coast, claiming that the exhibiting real estate companies introduced well-crafted offers that commensurate with all income brackets.

While hailing the proactive measures taken by Cityscape organizers for COVID-19 prevention, Ahmed points to the limited-time financial incentives by exhibitors to customers who commit to a unit purchase right away, which undoubtedly contributed to luring more buyers.

In the same vein, Dr. Ahmed Abdel Mohsen, 46, was there to see the exclusive offers on residential properties in NAC. “Buying real estate at a prestigious exhibition such as Cityscape raises consumer confidence in the seriousness of the exhibiting companies and their commitment to delivering on time.

However, Abdel Mohsen indicates that unit prices of multiple projects are somewhat high, despite the provision of more payment facilities and extended installment terms that span over two decades.

Coming under the auspices of the Ministry of Housing, Utilities, and Urban Communities, and held at the Egypt International Exhibition Center (EIEC), Cityscape Egypt was organized in accordance with Informa’s AllSecure event, a set of 10 commitments to put in place enhanced health and safety standards.


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