Continuing Invest-Gate’s series of roundtables over 2022, Invest-Gate is to hold a roundtable on October 12th, 2022 at 09:00 am in the Nile Ritz Carlton. Hosting prominent experts in the Egyptian real estate sector, the roundtable carries the title “4th Generation Cities: Opportunities & Challenges.”
Egypt embarked on a host of national projects some years ago to lay out the new infrastructure required for a modern state. The efforts started with an extensive network of roads to connect all the country’s cities with each other, followed by the building of new fourth-generation cities that will provide living areas and services for all social brackets.
The new fourth-generation cities have almost doubled the urbanization rate in Egypt, which for decades stood at around 7% of the country’s total area.
The roundtable aims at presenting and exchanging visions and proposals on the future of fourth-generation cities. This falls in line with Invest-Gate’s belief in the importance of discussing opportunities and challenges for fourth-generation cities, which contributes to placing Egypt on the global real estate export map. This, in turn, will positively affect the performance of Egypt’s economy over the coming years.
The discussion sessions will be moderated by Fathallah Fawzy, Chairman of Construction Committee Egyptian Businessmen’s Association (EBA), and attended by Waleed Abbas, Assistant of Minister of Housing for the Affairs of the New Urban Communities Authority (NUCA), Hisham Shoukry, CEO of Rooya Group, Bedeir Rizk, CEO of PARAGON Developments, Mohamed Taher, CEO of Nile Developments, Nader Khozam, Chairman and CEO of IL Cazar Development, Mohamed Galal, Managing Director of Misr Real Estate Assets Management, Hassan Nasr, CEO of Gates Developments, Sherif Hamouda, CEO of GV Development, Edrees Mohamed, founder and CEO of Akam Alrajhi Development, Gasser Bahgat, Chairman of Amaken Development, Mohamed Al Taher, CEO of Saudi Egyptian Developers, Ashraf Boulos, Chairman and CEO of Cornerstone Development, Raef Fahmi, Managing Chairman of Raef Fahmi Architects, Ayman Sami, Country Head of JLL-Egypt, Fouad Zayed, vice president of Digital Energy and EcoStruxure Egypt, North East Africa and Levant Cluster at Schneider Electric, and Amgad Khattab, General Manager of Engineering Solutions.
The roundtable’s first session, “Opportunities,” will tackle the potentials of raising the current demand in the new cities, and developers’ role in achieving urban development in fourth generation cities. Real estate experts will discuss the role of cooperation between the government and the private sector to implement various projects in new cities, in addition to achieving sustainability in fourth generation cities, since there is a is a global transformation towards the sustainability of real estate, as a major solution to face the ongoing environmental changes. Fourth generation cities also follow Egypt’s vision for sustainable development 2030, as the country will host “COP 27” in November 2022 in Sharm El-Sheikh, and they are considered the best solution to reduce the negative impact of the real estate sector on climate change. During the session, the speakers will shed the light on Egypt’s plan to go for LEED certified buildings, as Egypt has only 23 certified ones. They will also discuss the high return on investment in new cities, especially in the NAC, and how new cities attract more foreign investment, supporting the export of real estate (transforming New Alamein to be a global destination). The last to be discussed is the means of marketing the investment opportunities available in the new cities inside and outside Egypt for both, the government and developers.
The second session, titled “Challenges”, will focus on obstacles facing the implementation of the timetable for new cities, such as the government’s movement to the NAC, the repercussions of global economic crises (inflation/Ukrainian crisis) on new cities, and the most prominent problems facing investors in the new cities, including conditions and prices. Speakers will also discuss the facilities attracting local, Arab, and foreign investors, in addition to the prominent proposed amendments to the provisions of the immediate allocation mechanism of land in new cities.
This roundtable is sponsored by PARAGON Developments, Nile Developments, IL Cazar Developments, Misr Real Estate Assets Management, and Gates Development.
Media partners are: Aleqaria, Al Borsa News, Daily News Egypt, Osoul Misr Magazine, Bloom Gate, El Gedaan Real Estate, and Masrawy.
