Under the patronage of Prime Minister Mostafa Madbouly, the first edition of the Saudi-Egyptian Real Estate Development Conference (SEREC) will be launched on November 23, 2023, alongside the Nile Real Estate Exhibition, Invest-Gate reports.

The conference, titled “Integration Not Competition,” will bring together senior officials and real estate sector developers from Egypt and Saudi Arabia. The conference is organized by Expo Republic, the company behind the Nile Real Estate exhibition series.

The SEREC conference is a result of an official meeting that took place on May 25, 2023, at the Ministry’s headquarters in Riyadh. The meeting involved Majed Al-Hogail, the Saudi Minister of Municipal Affairs and Rural Housing, and 24 Egyptian real estate developers. During the meeting, Al-Hogail expressed the Kingdom’s willingness to benefit from Egyptian expertise in real estate development and in creating new investment opportunities for Saudi investors in Egypt.

The main objectives of the Saudi-Egyptian Real Estate Development Conference are to strengthen cooperation between Saudi Arabia and Egypt, support ongoing economic collaboration, facilitate the exchange of knowledge and experiences, explore opportunities for cooperation, and provide a platform for innovation.

Ahmed Sabour, Conference Secretary, member of the Egyptian Senate, and Chairman of Al Ahly Sabbour Development, highlighted that the conference presents an opportunity to attract investments from Saudi Arabia to Egypt. It also aims to promote Egyptian real estate and export expertise in real estate development, contracting, and labor companies. These efforts will contribute to bringing foreign currency into the country and creating employment opportunities for more workers.