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.
Summer is the time when most people head to their vacation houses on the North Coast or the Red Sea, fueling an appetite for first-time buyers and potential investors to hop on the bandwagon. But summer 2020 is unlike any other; appetite for leisure property purchases is somewhat suppressed during this supposedly "always-busy" holiday. This was mainly due to the Coronavirus crisis, which changed the facets of the Egyptian summer property market.
Hit hard by the prolonged slowdown in the realty sector, developers are betting big on the current season for the revival of their fortunes, making every effort to woo home shoppers with freebies and discounts. Invest-Gate looks under the hood to see if these marketing gimmicks offer value to buyers by interviewing several Egyptian real estate developers, who share their insights on how the year is coming together as well as present the various attractive offers tailored to cater to the changing consumer behavior, asking them to also layout the cascading effect on their sales and profit margins.
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