Cityscape exhibition witnessed a discussion session entitled “Challenges and Opportunities in the Egyptian Real Estate Market,” to discuss the future of the real estate sector, the challenges faced, and ways to overcome them and turn them into opportunities for success, Invest-Gate reports.

The session also discussed the components and opportunities that attract investment in the Egyptian real estate market.

The session was led by Fathallah Fawzi, Chairman of the Board of Directors at MENA Real Estate Development Consulting Company. It featured the participation of Khaled Abbas, Chairman of the Board of Directors and Managing Director of the Administrative Capital for Urban Development Company, Edrees Mohamed, CEO of Akam Alrajhi Development, and Ahmed Mansour, President and Executive Director of Cred Development.

This is in addition to Ahmed Sabbour, Chairman of Al Ahly Sabbour Real Estate Development Company, Waleed Mokhtar, CEO of Iwan Developments, and Ayman Amer, General Manager of SODIC.

Abbas confirmed during the session that the Egyptian real estate market is one of the strongest markets witnessing significant growth and that the Administrative Capital Company achieved profits last year 2022 of about EGP 20 bn and aims to increase them by 25% by the end of 2023.

Amer stressed that Egypt is a large country with many components that help attract more investment and that the success of the real estate export file will support the availability of hard currency. In addition, SODIC faces a major challenge concerning real estate financing, and the necessary facilities must be provided to overcome this challenge.

Sabour confirmed that the success of the real estate developer represents a success for the national economy in general. He said: “Despite the great facilitations provided to the sector, we need more facilitations to achieve greater success.”