The V Estate Expo exhibition and conference witnesses a number of discussions throughout its sessions that have shed light on the current situation of the real estate sector in Egypt, especially after the Coronavirus (Covid-19) pandemic and how the sector is managing to control its effects, Invest-Gate reports.
In this context, real estate and investment experts discuss the available opportunities provided in the Egyptian market during the post Covid-19 phase, as well as the steps taken by the state and the private sector to provide a large number of residential, commercial and administrative units in various governorates.
V Estate Expo sessions began with a presentation by Khaled Al-Husseini, spokesman for the Administrative Capital Company who stresses that work is underway to move about 50,000 government employees to work in NAC in the next few months, adding that 95% of the government district has been completed and is ready for the ministries to move by the end of this year, and that tests were conducted on facilities and smart technologies inside the ministries’ buildings to ensure their readiness and efficiency.
Moreover, he explains that the company made profits through selling lands to developers, especially with the increasing interest of developers from Egypt and the Arab world to work there.
Sahar Nasr, Former Minister of Investment and International Cooperation declares that Egypt has played a leading role in mortgage financing specially in affordable housing in order to address the gap between supply and demand.
Furthermore, Deputy Minister of Housing for National Projects, Khaled Abbas, presents the efforts made by the ministry in NAC, explaining that the ministry is about to complete some projects, including residential neighborhoods and the Iconic Tower, its metal structure is due to be finalized next month.
Additionally, Abbas clarifies that the ministry will expand partnership projects during the coming period with private sector companies, and that major international companies are planning to establish a headquarters in NAC, expressing the state’s interest in non-traditional solutions such as the V Estate Expo, in line with the state’s digital transformation policy.
For his part, Tamer Dewidar, CEO of Makadi Heights, stresses the importance of residential tourism sector, which adopts technological solutions, and the role that companies play in building smart cities, which provides promising opportunities and help make the sector restore its full activity and achieve rapid growth rates.
Furthermore, Alaa Al-Qahtani from Saudi Arabia remarks on how to build trust between the architect and the developer to reach the best forms of construction, especially that many developers work generally with more than one architect for the same project.
It’s worth mentioning that the virtual event of the V Estate Expo concludes with a rich agenda of sessions and dialogues, and with the participation of Aser Hamdi, Chairman of the Board of Directors of Orientals for Urban Development, Abdullah Salam, CEO of Minca, Ali Abdel Ghaffar, CEO of Sawyer Seven, and Ahmed Barakat, CEO of Expo One, the company responsible for the organization of the exhibition.