Mountain View is Conquering KSA Market with A New Retail Experience

Mountain View is Conquering KSA Market with A New Retail Experience

Mountain View participated in MIPIM 2023 real estate exhibition in France’s Cannes for the second year in a row. During the event, the company discussed investment opportunities in different countries and promoted its diversified real estate projects portfolio.

The company also uncovered its expansion plans across the region by entering the Gulf market, to replicate its success in establishing communities based on the science of happiness.

In this regard, Invest-Gate conducted an interview with Eng. Amr Soliman, Founder and Chairman of Mountain View, and Eng. Wael Lotfy, Partner, Board Member, and chief marketing and innovation officer at Mountain View, to discuss the importance of participating in international exhibitions such as MIPIM 2023, the company’s future plans, the ways of attracting foreign investments, in addition to the company’s expansion plans for the coming period.

Eng. Amr Soliman, Founder and Chairman of Mountain View

How do you see Mountain View’s participation in the MIPIM 2023 edition?

We participated in MIPIM for the second year in a row, our first participation in

2022 had a great impact in terms of meeting new investors and presenting new concepts. Last year, we showcased our concept, “The science of Happiness”, while this year we participated with two main goals in mind. The first is to export Mountain View’s innovative concepts beyond Egyptian borders, especially in KSA. The second is to provide some of the most powerful players in the international real estate sector a firsthand look at Mountain View’s extensive portfolio of real estate projects, which are distinguished by the application of “the science of happiness”, innovative concepts, and meeting international standards. This has the potential to attract foreign direct investments (FDI) and maintain Egypt’s position at the forefront of the global investment scene and as a leading global investment destination.

Eng. Wael Lotfy, Partner, Board Member, and chief marketing and innovation officer at Mountain View

What is the importance of the Egyptian citizenship law in revitalizing the real estate sector and exporting real estate?

We agree with the government that a citizenship law is needed. The law, already issued, grants citizenship in exchange for buying a property inside Egypt at a value of $300,000, which will positively contribute to the success of exporting Egyptian real estate, as supported by existing legislation. Passing the new law means a positive development for exporting real estate, and we are confident that this is the right track.

Egypt has a lot to offer to individuals looking for a good standard of living on a budget. With low costs of living compared to neighboring countries, people in Egypt can enjoy a prosperous quality of life for less money. This makes Egypt an attractive option for many everyone looking to get the most out of their money.

Furthermore, citizens in some Arab countries that lack political and economic stability need a place to enjoy a quality of life with strong infrastructure, restaurants, shops, and other facilities. There are a lot of business opportunities in Egypt for any country to seize.

What are the real estate sector’s mechanisms to attract global investment funds?

There are many mechanisms to attract foreign currencies, mainly by the government, such as the law of granting citizenship in return for buying a property worth $300,000. This is a powerful tool that has not been highlighted enough. It is one of the main factors that will open the doors for real estate funds based on the market and economic conditions.

What is Mountain View’s concept of the “Science of Happiness” in the real estate sector? Or What makes Mountain View unique?

We have an unprecedented purpose and a 100-step ahead vision of “Bringing Life to Land and Spreading Happiness Around us”, that’s why we aim to utilize the best real estate development tools to elevate residents’ quality of life. We embed the “Science of Happiness & Science of Innovation” in everything we do hence inviting our clients, whom we consider our extended family, to “experience happiness” every day. We are known for developing world-class unique projects taking innovation and creativity in the real-estate sector to the next level.

We do not want to only increase land capacity, but we want to build happy communities. This was from that precise vantage point that our company decided to make a breakthrough in the real estate industry by incorporating every single aspect that revolves around the word “Happy” into our communities. Starting from introducing fully-fledged real estate projects based on the science of happiness for the 1st time in Egypt and the Middle East, offering distinctive residential real-estate designs, which stray away from redundancy and are directed towards smart and convenient solutions that complement the modern requirements and ongoing changing demands of this modern era we live in. Lastly, building a happy, active social environment that fosters a sense of belonging and strengthens family ties. This, in turn, led to an increase in the demand for the company’s projects and sales volume.

What are the new agreements that Mountain View signed during the event?

We announced our partnership with Sisban Holding Company, a leading Saudi investment holding with global subsidiaries in real estate, agriculture and F&B. Having previously partnered on the launch of Mountain View iCity in 2015, we are partnering with them for the second time to revitalize the Saudi retail industry by introducing an innovative retail experience that can promote engagement and boost happiness by giving families a unique opportunity to spend quality time together in a new and different sense with activities and services that meet their different interests and demands. This retail experience will serve as a one-stop shop, where people can enjoy a uniquely happy, and innovative experience from the moment they step out of their car until they leave the project.

Last year, we also joined forces with Omar Kassem Alesayi Investment Group to form a joint venture company in construction and real estate development in Saudi Arabia to build world-class integrated urban projects and tourist resorts.

Given all parties’ extensive experience in the fields of investment and real estate development, the partnership aims to strengthen cooperation and exchange of experiences, while also expanding on promoting investments in the retail sector within the Kingdom.

Why do you expand in the Saudi market in particular?

KSA plays a fundamental and major role in the Middle East region, in terms of the economy and the growing population, 38mn people. The Saudi real estate market is relatively new. Yet, it has a promising future with strong purchasing power. In addition, the Saudi market is witnessing a wide urban movement, especially in major cities, and real estate investment is characterized by a wide profit margin. Our expansion strategy also contributes to the Kingdom’s 2030 goals of achieving a 70% ownership rate of residential units within the upcoming 10 years.


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