Egypt’s Minister of Housing, Utilities and Urban Communities Assem El-Gazzar and his Saudi counterpart will open the Saudi Egyptian Real Estate Conference (SEREC), which will be held on the sidelines of the 11th Nile Property Expo exhibition on Thursday, 23 November, Invest-Gate reports.
Organized by the Expo Republic, the conference follows a May meeting between the ministers and 24 Egyptian developers where Saudi’s rural affairs minister welcomed Egyptian expertise and investor opportunities.
The conference is divided into three essential sessions. The first session, titled “Partnership: The Path to the Future for Developers in Egypt and Saudi Arabia,” will delve into successful experiences of collaborations between Egyptian and Saudi developers. It will explore strategies to tackle challenges in joint projects between developers from both nations and highlight key differences between the real estate business models in Egypt and Saudi Arabia.
The second session, “Real Estate in Development Plans: 2030 as a Common Link,” aims to discuss achieving urban development goals outlined in the 2030 visions and plans of both Saudi Arabia and Egypt.
This session will emphasize enhancing cooperation in tourism projects along the Red Sea and how Egyptian real estate companies can engage in Saudi infrastructure projects. Additionally, it will address challenges related to real estate export targets in both countries.
The third session, titled “Real Estate: Promising Opportunities,” will cover topics such as the future of investment in the Administrative Capital, considering the relocation of ministries.
It will explore new government incentives for real estate development, challenges confronting the Egyptian development market, and the potential return on investment in the finest Egyptian real estate.
The exhibition anticipates a significant turnout with notable attendees and invitees, including Assem El-Gazzar, Minister of Housing, Majed Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, and several esteemed figures from the Riyadh Chamber, Jeddah Chamber, Egyptian-Saudi Business Council, the National Company for Housing, Administrative Capital For Urban Development (ACUD), and more.
Moreover, the event will see participation from the Saudi and Egyptian business communities and banks.
Egyptian policies align with Saudi King Salman’s vision to diversify the economy beyond oil and develop real estate, as the kingdom’s housing program drives over 120 sectors until 2026.
Attendees include the housing ministers, builders and chamber heads from both countries, plus banks, business groups and Saudi firms.
Sessions will discuss past partnership successes, 2030 vision goals, how Egyptian firms can tap Saudi infrastructure spending, and challenges in both markets.
The exhibition features Egyptian builders showcasing projects in the capital, North Coast and elsewhere to tap Saudi and Egyptian community demand.
Promising opportunities include the New Administrative Capital as ministries relocate there and new incentives.
Conference Secretary Ahmed Sabour said Egyptian firms are open to the Saudi market and joint local projects, noting real estate cooperation yields success.
The Saudi Real estate market is expected to grow from $67.7 billion in 2023 to $94.19 billion by 2028 as it aims to build 300,000 units in partnership with the private sector.