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Cityscape Egypt sets new records

19,489 prospective buyers and investors flocking to the Egypt International Exhibition Center in Cairo searching for real estate opportunities.
© Egypt Business Directory
 

The recent Cityscape Egypt Live event, which ran from 22-25 September 2021, recorded its highest visitor turnout in the event’s decade-long history, with 19,489 prospective buyers and investors flocking to the Egypt International Exhibition Center in Cairo searching for real estate opportunities and assess the sector’s post-pandemic predictions.

Celebrating it’s 10th anniversary this year, the country’s most prestigious and influential real estate investment, development, and networking event, also attracted 216 media representatives who were eager to cover the exhibition and the 65 exhibitors who attended the event and gained sector perspectives from the 45 strong speaker line up at the Cityscape Egypt Live conference which ran from September 20 and 21 at the Four Seasons Nile Plaza Hotel.

“This was undoubtedly a watershed show with a total of 25,351 participants which reflects the bullish forecasts of sector experts on the likelihood of a rebound of Egypt’s real estate economy early next year,” explained Chris Speller, Group Director, Cityscape. “Exhibitor feedback has been highly encouraging both from Cityscape regulars and  newcomers alike.”

Among the new exhibitors was visitor registration sponsors, Sky Abu Dhabi Developments, the company behind the luxurious Residence Eight in the New Administrative Capital, which exceeded sales from the event and gained insights to impact its go-to-market approach. Sky Abu Dhabi’s Chief Commercial Officer, Mostafa Salah said participation had exceeded the company’s initial expectations.

“Due to the high turnout of potential customers, as well as the participation of major real estate developers in Egypt, we expect to achieve good sales returns while the market knowledge and forecasts we accessed will contribute to our future marketing strategy helping us to diverse our approach to reaching investors,” he said.

Eight Developments, a provider of real estate properties and solutions, was so satisfied with its participation outcome that it immediately committed to the 2022 show. Roullan Mohamed, Eight Development’s Marketing Manager was full of praise for the event.

“Cityscape is definitely one of the best exhibitions in Egypt and the Arab world in general. Our participation is not for sales or promotional purposes as we always achieve our targets, but about building brand awareness and networking, and it fulfills these aims. The organization of the show is wonderful and far better than some other exhibitions.”

Cityscape Egypt 2021 came as real estate experts forecast a resurgence of the market by the second quarter of next year, incentivized by governmental regulatory reforms and local financial sector enhancements, including the reduction of interest on deposits.

“Egypt is emerging as a safe haven for investment and hedging as it matures into a strong regulated sector giving more confidence to investors,” said Speller. “The market is also witnessing the creation of new sales incentives which benefit buyers in terms of payment facilities and expansion of installment periods.These are all good signs for the future, particularly when viewed alongside rising demand in new cities, particularly from second property investors.

“We anticipate Cityscape Egypt 2022 will be a showcase of sector resurgence and a gateway to a new era of Egyptian real estate opportunity. Next year’s show will also reflect the impact of the soon-to-be-enacted Real Estate Developers Association Law, which sent a new wave of confidence through the sector by regulating the market, protecting customer rights, and facilitating the resolution of buyers and seller disputes. The Egyptian real estate market is transforming and coming of age and will be a force for opportunity for domestic and international investors alike.”

The 10th edition of Cityscape Egypt was supported by Egypt’s Ministry of Housing, Communities and Urban Development, Master Sponsor, Mostakbal City; Platinum Sponsor, Sorouh Developments; and Visitor Registration Sponsor, Sky Abu Dhabi Developments.