Eng. Bashir Moustafa

Bashir Moustafa: Providing an integrated legislative environment that supports the idea of an industrial developer

Eng. Bashir Moustafa, CEO of First Group Real Estate Investment, and a member of the Egyptian Businesmen Association, said that an integrated legislative environment must be provided and a change in citizen culture that industry is not something that reduces the value of an individual.

He confirmed during the round table "The trend for commercial real estate, and The future of the real estate market in Egypt, "during which the first session, including industrial real estate and the role of the private developer, discussed during the coming period, that industry and agriculture in Egypt was the main source of national income for the country because it converts unused materials of low value into a final product with high value that countries can rely on as a major source of national income.

He pointed out that if the state's vision is towards making the industry a general orientation and supports this vision, it is necessary to provide a complete package of laws and legislation and not change them within short and rapid periods to preserve the factory, especially since the state has launched a very strong road network during the previous period that meets the needs of export and the transfer of manpower to the industrial zone. A residential area will be needed for these workers.

The provision of facilities, resources and a package of legislation to an industrial developer and the presence of a real estate developer would provide thousands of opportunities in the coming years to set up factories and direct the proceeds from the sale of land to bring about the restoration of the entire region, thereby achieving an integrated industrial Renaissance followed by a housing and urban Renaissance.

During the second session on administrative and commercial units, he added that the studies carried out by the developer in order to determine the sale, marketing and operational needs of administrative projects is a measure of the success of a real estate developer in the continuation of administrative buildings in decades. He pointed out the importance and necessity of taking into account what is needed to operate the building after its implementation in order to arrive at the correct model for commercial and administrative buildings.

He added that the main criterion for the success of administrative projects is the location, operation and experience of the real estate developer that qualifies him to make the building successful and to operate it in the right way, explaining that the entry of some companies that do not have sufficient expertise to invest in administrative buildings will inevitably lead to the failure of these buildings, their cessation and definitely not operation.