Looking forward to 2020 and beyond, Invest-Gate reaches out to a panel of Egypt-based real estate developers to identify the extent to which this year's realty sector stands in stark contrast to previous periods amidst the COVID-19 outbreak, attempting to determine what could the 2021 property market have in store.
With the recent upward performance of Egyptian real estate developers bringing some signs of cautious optimism for recovery in the thick of the continued outbreak, Invest-Gate asks Cityscape exhibitors to evaluate the gains of the four-day property exhibition and assimilate if the touted sales and leads are qualified enough to help meet their “true north” goal in 2020.
As Coronavirus becomes today's new normal, lots of questions are popping up about the new trends emerging on the road to the real estate sector's recovery, especially after the return of physical exhibitions and events. That follows the heavy reliance on online showrooms and virtual tours to practice social distancing in the wake of the health crisis, as well as developers' unfolding of new innovative products to meet the different needs of clients.
To give a little sneak peek into what to expect from the four-day event, Invest-Gate speaks to exhibiting companies and developers and gets an overview of Cityscape Egypt 2020. We aspire to manifest what property exhibition offers to boost real estate demand, following more than six months of almost complete paralysis.
Invest-Gate takes an in-depth look at the most recent Aqari Exhibition to monitor the current state quo of the Egyptian real estate industry by getting insights from the participating developers and attendees, thereby contemplating how the Coronavirus outbreak is reshuffling market dynamics, and thus, consumer behavior. Accordingly, we aim to discern if the trend of property exhibitions will once again rebound and inch up in the near future.
In Egypt, after weeks of self-isolation and social distancing, especially across its vital revenue-generating industries, namely real estate, new business models have developed and marketing strategies have been modified to combat the virus outbreak, to overcome its aftermath, and “get the wheel running” as they say. In addition, work has resumed, especially where governmental projects are concerned, to meet the scheduled deadlines, while prioritizing the safety of workers involved. Invest-Gate meets up with a number of Egypt’s currently active players across the private sector to get their insights on the market and how this global crisis affected their businesses, while reflecting on the strategies they have adopted to overcome this unprecedented time.
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Under the tagline of “the innovation that meets clients’ needs,”Edrees Mohamed, Akam Developments’ chief commercial officer (CCO), shares with Invest-Gate the developer’s vision to create a unique identity for a mixed-use development, which boasts an exceptional competitive edge and contributes to the Egyptian real estate market’s growth and development.
Invest-Gate has accompanied some of its partners in the real estate market at their extravagant events during the holy month. So here is how busy the sector was this Ramadan season.
Invest-Gate digs through Ramadan’s real estate marketing campaigns in Egypt, while trying to deduce the actual outcome of these promotional strategies, in the context of a growing housing sector and a strong rivalry among property developers.
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