In concluding its 22nd roundtable, “The Luxe Retreat: Exploring Second Home Property Investments As True Wealth Builders” has attracted key industry leaders and the most seasoned experts to discuss effective methods to maximize the investment potential and profitability of Egypt’s second homes market which has witnessed notable growth in the nation’s coastal regions.

During this exciting engagement, discussions revolved around the appeal of Egypt’s second homes as an investment opportunity, the involvement of the banking/finance sector, leveraging the potential of branded residences/hotel apartments, enhancing real estate trade, and a rich variety of other essential topics.

This roundtable was moderated by Mr. Amr Elkady, Founder & Managing Director of AKD Advisory and Board Member of Egypt’s Real Estate Export Council, and witnessed the participation of speakers, including Dr. Mostafa Mounir, CEO of the Tourism Development Authority; Eng. Hisham Shoukry, Chairman of Real Estate Egyptian Council and Founder & CEO of Rooya Holding for Real Estate; Mr. Ayman Abbas, Chairman of Intro Investments Holding; Eng. Mohamed Abdalla, Chairman of Coldwell Banker Middle East; Mr. Ibrahim El Missiri, CEO of Somabay; Mr. Haitham Mohamed, CEO of Ora Developers Egypt; Eng. Waleed Mokhtar, CEO of Iwan Developments; Mr. Akef El-Maghraby, CEO and Managing Director of Suez Canal Bank; Eng. Bassel El Serafy, CEO of Adeer International; Mr. Nader Khozam, Chairman & CEO of Il Cazar Developments; Dr. Raymond Ahdy, CEO of Wadi Degla Developments; Mr. Omar El-Tayebi, CEO of TLD- The Land Developers; Eng. Yasser Al Beltagy, Founder and Chairman of YBA; and Mr. Mohamed Galal, Founder of TSM.

 Discussions concluded with the following recommendations:

1. Introduce to the Tourism Development Authority the recommendations related to hospitality components for projects and organize follow-up meetings.
2. Clearly differentiate hospitality component criteria according to the Tourism Development Authority terms, streamlining processes for investors.
3. Consider hotel apartments as alternatives to hotel rooms in the conditions of licenses to improve project profitability.
4. Immediate action to secure and register trademarks related to the Red Sea region in light of recent real estate developments on the opposite shoreline.
5. Adopt destination branding strategies to boost second home investments and elevate its value.
6. Adopt investments in second home asset and facility management for tourist destinations’ success.
7. Revise the high interest rates for lands that were priced in USD to mitigate the impact of EGP floatation.
8. Promote property exports in second homes, vacation properties, and branded residences to attract more foreign buyers.
9. Target investors from BRICS nations in addition to GCC investors to broaden the investor base.
10. Create incentives for committed developers to encourage investment.
11. Explore the potential of real estate funds to introduce new opportunities to the second home market.
12. Encourage developers to incorporate sustainable practices and net-zero initiatives to attract buyers and financing opportunities.
13. Implement laws and tax regulations that attract global attractions, international concerts, events, and entertainment to coastal areas, enhancing their appeal.
14. Advocate for the adoption of the master developer model in second home developments.
15. Customize projects to fit the unique characteristics of each region, maximizing their attractiveness.
16. Establish incentives for the use of desalination plants and provide tax exemptions on desalination plant investments.
17. Provide banking facilities to support the establishment of desalination plants, contributing to sustainability efforts in coastal regions.