Eng. Randa El-Manshawy, Minister of Housing, Utilities and Urban Communities, received Dr. Bassem Kalila, Chairman of Kalila Exhibitions and Conferences, the organiser of the Nile Property Expo, to discuss opportunities for mutual cooperation, particularly regarding the export of Egyptian real estate, Invest-Gate reports.
At the beginning of the meeting, El-Manshawy stressed that the Ministry of Housing attaches great importance to real estate exports as one of the main pillars for supporting the national economy and attracting more foreign investments. She also highlighted the role of the Nile Property Expo in marketing and promoting Egyptian real estate products abroad.
The minister added that the ministry is working to create an attractive investment environment by facilitating procedures and offering various incentives to real estate developers, thereby enhancing the competitiveness of Egyptian real estate products in regional and international markets. She further emphasised the ministry’s commitment to strengthening cooperation with developers and relevant stakeholders to market the integrated urban projects implemented by the state, particularly in new cities, reinforcing Egypt’s position as a distinguished destination for real estate investment.
“Manazel” as a Permanent Platform for Marketing Egyptian Real Estate Abroad
During the meeting, Dr. Bassem Kalila reviewed several proposals for joint cooperation, highlighting the “Manazel” project, which represents the first permanent sales hub for Egyptian real estate developers outside Egypt. The project is scheduled to open in Riyadh, Saudi Arabia, next September and will host 10 Egyptian real estate development companies, aiming to increase overseas sales through year-round presence.
He explained that Riyadh will be the first destination in the “Manazel” expansion plan outside Egypt, with further expansion into the United Arab Emirates, Kuwait, and Qatar over the next two years.
Promoting National Projects and Strengthening the Presence of Egyptian Real Estate
The meeting also discussed a proposal to allocate a dedicated space within “Manazel” for the Ministry of Housing to promote the national projects implemented by the Egyptian government and showcase investment opportunities in the Egyptian real estate sector, creating a permanent platform to introduce these projects to investors and clients abroad.
The discussions further addressed cooperation opportunities through the Nile Property Expo series, including a proposal to allocate an official pavilion for the Ministry of Housing to promote national projects and new cities and provide services and information to investors and clients interested in the Egyptian property market.
At the conclusion of the meeting, both sides agreed to continue coordination and cooperation during the coming period to support the state’s efforts to export Egyptian real estate and strengthen its presence in international markets.