Eng. Ahmed Ehab, Madaar Developments CEO, confirmed that the Egyptian real estate market is currently going through an important stage of development that requires stronger cooperation among all active parties and a greater move toward organized institutional work, explaining that establishing the “Egyptian Real Estate Developers’ Union” represents a supportive and complementary step to government efforts aimed at regulating the sector and supporting its sustainable growth, Invest-Gate reports.
The Roundtable on Establishing the Union
This came during his participation in the roundtable titled “Towards Establishing the Egyptian Real Estate Developers’ Union,” which brought together a group of leading real estate developers and decision-makers to discuss ways to establish an institutional entity that represents the sector and supports frameworks for joint cooperation. Eng. Ahmed Ehab explained that the development of the market may open the way for more partnerships and acquisitions between large and small companies, creating new opportunities for cooperation and combining expertise and capabilities, pointing to the importance of having clear frameworks for registration and regulation to support this development.
The Importance of Comprehensive and Reliable Data
He pointed to the importance of having comprehensive and reliable data about the market and its investment information, as one of the key elements for understanding developments in the sector and identifying its future directions, noting the government efforts through the new law to develop the data system and build a comprehensive and organized database for companies through the efforts of the General Secretariat. He confirmed that improving the availability of data and continuously updating it would support decision-making and provide a clearer view of the market situation and its future growth opportunities.
The US Real Estate Market Experience
Ehab reviewed the experiences of major global markets, such as the US real estate market, which reaches $80 trillion in size, discussing the leading model of the “National Association of Home Builders,” which carries out seven main roles to advance the sector, including:
· Officially representing the sector before the government.
· Actively contributing to the development of laws and regulations governing the sector.
· Unifying ethical code of conduct standards and developing standard data forms for contracts, handover records, and documents.
· Education, training, and qualification for universities and sector employees on a wide scale.
· Effectively resolving disputes and settling conflicts.
· Conducting research and providing market intelligence and economic information.
· Approving and developing the unified building code.
Supporting Government Efforts to Regulate the Sector
In the same context, Eng. Ahmed Ehab praised the ongoing government vision and efforts to support and regulate the real estate sector and develop its work system, confirming that current directions reflect the state’s commitment to establishing a more sustainable regulatory environment to support the sector’s growth. He explained that establishing the Real Estate Developers’ Union comes as a supportive and complementary step to these efforts by strengthening self-regulation and governance, and providing an institutional platform for dialogue and coordination among the different parties of the sector, in a way that works alongside government directions and supports the continued development of the business environment and market growth.
Building a Flexible and Sustainable Business Model
Ehab confirmed that the broad discussions reflect the sector’s continuous development toward building a flexible and sustainable business model that strengthens the application of governance more effectively and supports the integration of efforts among different parties, contributing to the continued growth of real estate activity and the development of the real estate management system.