Under the slogan Misr Betaarablek “Egypt is Getting Closer,” Expo Republic flies across the world to showcase Egypt’s real estate market to Egyptian expats and international investors. Invest-Gate sits with the Founder of the Nile Property Expo and Expo Republic Chairman Dr. Bassem Kalila in a one-on-one interview to learn more about the aim and objective of this global venture before its first stop in Abu Dhabi next month. Kalila also reveals where the Nile Property Expo heads next on its 2018 world tour.
First, we would like to know more about your background… What made you move from dentistry to trade fairs and exhibitions?
My career started during my undergraduate years, when I was operating my own business, based on my family’s company, which dates back to 1952. Back in January 2007, I founded a small-scale catering services and consultancy company. I consulted a number of restaurants and entertainment venues across Egypt with one of my friends; then I became a food supplier for the Egyptian government. Two years ago, I became a food exporter, depending on my own network that I built over the past 11 years.
Expo Republic brings a modern platform for knowledge exchange and trade, can you please elaborate more on that?
Expo Republic is a new diversity to my business life, established a few months ago in the UAE with a professional team from different fields and backgrounds. Nile Property Expo 2017 is also a new platform added to our portfolio. We invite in the Egyptian real estate developers to showcase their pioneering projects and present them to the outside world across different markets, including KSA, Kuwait, London, and USA. We kick start with Nile Property Expo’s first edition next month in the UAE.
I believe it is an Egyptian-Emirati establishment, please tell us more about the previous organized exhibitions and what they achieved?
We can say that the upcoming Nile Property Expo in UAE is the debut to our exhibition services relying heavily on our team of experts. Expo Republic’s goal is to introduce the Egyptian developers to the international markets, as well as, build successful partnerships and networks with businessmen through our business summits, aiming at attracting further investments to Egypt, especially after the newly enacted Investment Law No8. Hence, we made our slogan Misr Betaarablek “Egypt is Getting Closer.”
Why did you divert your attention to the property market at this stage to present the Nile Property Expo?
Actually, it is the aggressive competition witnessed in the real estate market over the past 10 years along with the recent devaluation of the Egyptian currency that made us embark on such a venture. We believe that the circumstances, today, are healthy to help Egyptian expats invest in Egypt by purchasing first or second homes.
How do you view the Egyptian property market?
Because of Egypt’s ever growing population, the demand on real estate increases way beyond the provided supply. Thus, we believe that the Egyptian market is one of the best selling markets in the world and enjoys an excellent return on investment.
What is the aim of the Nile Property Expo?
First and foremost, the Nile Property Expo aims to market Egypt as a promising destination for investment in addition to helping Egyptian expats have homes upon their return to their homeland; or for their children in the future.
Given its debut in the Gulf, does it target only Egyptian expats or Arabs investors as well?
The Nile Property Expo is catered to Egyptian expats in the GCC; however, we seize such an opportunity to attract Arab investors as well. We provide a more knowledgeable platform through this exhibition and summit, presenting the new business laws and investment opportunities in the country today in light of the comprehensive reform plan and, of course, the cheap property market in relevance to their local currencies.
With Egypt’s current reform and development plans on all levels, namely the construction of new cities, do you find such initiative appealing to Egyptians abroad? Are they looking to buy properties outside the capital?
I believe so. It is all about future plans and that is exactly what an Egyptian living abroad is after. Egyptian expats are looking for a future investment with high value and return on investment as secured assets for them and their children in the future.
Today, we see some of the market’s key players expanding outside the capital and highlighting a brighter future to some of Egypt’s neglected destinations. These include Palm Hills expanding in Alexandria, as well as, other developers eyeing Fayyoum, and Luxor. What are your comments on such a move and do you believe that it caters to the purchase power in the GCC?
Palm Hills, among the many top developers, continue to take the lead and set new records in the real estate sector; and soon I believe the rest will follow. They are looking for new models to sell, which reflects their vision and maintains their unique positions… As for buyers, trusting such big companies, they too will soon be looking forward to have their homes at these destinations.
Ever since the devaluation, the majority of developers are eyeing Egyptian expats and are marketing their projects to attract them, when do you believe the market will be more inviting to international investors aside from Arabs?
This is bound to happen very soon in my opinion; as soon as foreigners can feel the secure atmosphere in Egypt once again. I see it already happening in destinations across the Red Sea, including El-Gouna and Sharm El-Sheikh. I also believe that the North Coast will join the booming real estate destinations of Egypt very soon too.
How do the recent economic reform measures affect your business? How do you see it affecting the property market and purchase power?
This reform is boosting the market again after six years of crisis, and that is obvious, specifically in the property market. Despite the price increase, Egyptians are still buying houses, as it is the most secured investment.
Where are you taking the Nile Property Expo next? Or will it only be an annual exhibition held in the UAE?
Nile Property Expo is to be held annually across KSA, Kuwait, London, and USA, aside from its annual UAE plan.
What is Expo Republic’s next move? What other shows do you have in the pipeline aside from the Nile Property Expo?
Stay tuned for our future plans, which we will reveal in December at our official press conference. For now, I can only say that we are currently working on our next move to another destination plan, which began back in August.
The Nile Property Expo 2017 will take place from December 14-16 in Abu Dhabi. The countdown has begun!
For more information log onto http://www.exporepublic.com