Developers are looking at the opportunities and challenges of the sector in East Cairo

Ashraf Ezz El- din : East Cairo region acquires 62%, except for the turnout of administrative offices

Al-Futtaim Real Estate participates in the Fifth Real Estate Development Conference 2021 to discuss the future of integrated urban communities in East Cairo

Eng. Ashraf Ezz El- din, Managing Director of the Futtam Estate Group, said that the East Cairo region plays a big role in attracting first-degree offices during the coming period, and the East Cairo region currently holds 62% of the turnout for administrative offices, and 22% for the West Cairo region and the remainder for the central region of the country.

He added in his speech at the conference "The Future of Urban Development in Egypt" that the East Cairo region is characterized by its strategic location, and it is expected that with the move to the new administrative capital, the volume of demand for the East Cairo region in the administrative part will increase by 96%.

"Our group is proud of the recovery of the projects in the East Cairo area, at the forefront of which is the Cairo Festeval City project, thanks to the great attention given by the State to developing the road networks, improving infrastructure and strengthening the supply of vital services and facilities," he said, In addition to the state's sound decisions to allow foreigners to own units and obtain free residence for up to 6 years, this recovery results in a jump in real estate export rates in Egypt, especially in Arab countries, in addition to achieving an abundance in foreign exchange and stimulating the establishment of more and more smart cities in the near future."

Ezz El-Din added in his speech: "Our serious endeavours by the Futtasem Property Group have always been conducive to the direction of the Egyptian State and its strategies aimed at activating Egypt's vision.

He stressed that from the first day we started our business in Egypt, the group adopted an enlightened plan for the export of real estate based on four main pillars, based on the choice of the best strategic locations and the unique presentation to Egypt for the first time of the concept of integrated urban communities, As well as enhancing the quality and efficiency of the projects offered, and improving the level of after-sales services for their customers. By providing the finest residential, administrative, commercial, tourism and leisure projects under one roof.

The Cairo Festival City project has become a favorite destination for elite investors and people looking for living welfare in Egypt, with business progress reaching 78% in a short period of time. In addition, the Al-Futtaim Real Estate Group will pursue its future projects in order to present its current and new customers in the Egyptian market with the best modern projects that have unique unique characteristics.

Eng. Jasir Bahgat, CEO of Maktoum Real Estate Development Company, said that Ain Sokhna is one of the areas that benefited from the Corona crisis, as many citizens were forced to stay in it during the past year instead of Cairo.

He added during his speech at Mal GTM's 5th Real Estate Development Conference "The Future of Urban Development in Egypt "- that the current road network made it easier to travel to Ain Sokhna faster, saying" Currently you can travel to Ein Sokhna faster than you go to Zamalek than a gathering."

He noted that the Sukhna area currently accommodate the entry of new entities and the development of projects, but that the nature of the target group needs to be studied and the real estate developed.

He noted that the Sukhna area currently accommodate the entry of new entities and the development of projects, but that the nature of the target group needs to be studied and the real estate developed.

Some real-estate developers' projects did not suit low-income groups, which were the largest percentage of the population and accounted for about 60%.

Bahgat attributed this to excessively high land prices, volatile prices of building materials, high construction costs, and poor infrastructure.

He pointed out that mortgage finance is the key to avoiding the problems of rising prices and absorbing most citizens.

Engineer Tamer Nasser, CEO of the New Egypt for Housing and Construction Company, a public business company, confirmed that his company will soon announce the winning entity to participate in the exploitation of a plot of land owned by it, and seek to use it to finance the company's restructuring.

During his speech at the fifth real estate development conference organized by the company Male JT, he added that the new board of directors of the company had set up a five-year plan aimed primarily at promoting the company and abandoning the idea of assigning its management to a real estate developer.

He explained that his company has a large plot of land east of Cairo and bet on it for sufficient profit.

Hassan El-Qalla: The capital of the Medical City is 21 billion pounds

Hassan Al-Qala, president of the Egyptian Healthcare Company, said that The capital of the city of medicine is 21 billion pounds, That separate tests will be done for each diabetic within the new medical city, to find out the cause of the injury, stressing that each patient will be treated individually.