Minister of Housing to address real estate industry

Dr. Mostafa Madbouli ،Minister of Housing, Utilities and Urban Communities

Minister of Housing, Utilities and Urban Development Mostafa Madbouly has confirmed his attendance at the real estate industry’s flagship event, the Egypt Real Estate Summit, which will take place on 7-9 April at Four Seasons at Nile Plaza, Cairo.

Madbouly will share his vision for Egypt as an investment hub and respond to questions posed by delegates at the summit.

The Minister will be joined by 250 industry CEO’s and more than 40 speakers including the recently announced Sherif Samy, chairman of the Egyptian Financial Supervisory Authority.

Real estate is currently one of the most important sectors contributing to economic growth, affecting more than 90 industries and accounting for at least 8% of the total labour force. Property purchases led by individual investors have seen the main stock market index soar 63% since early July, surpassing its level before the 25 January Revolution.

“We plan to launch Egypt’s first index fund in April to increase liquidity in the market and draw more investors especially Arabs,” Samy said.

Samy’s contribution to discussions at Egypt Real Estate Summit will shed light on Egypt’s progress in providing alternative forms of funding – namely mortgage and securitisation – as the panel asks, “Where are we now and where are we heading?”

Samy will be joined by Hala Bassiouni, managing director of the Egyptian Housing Financing Company, and Amr Hassanein, chairman of the Middle East Ratings and Investors Service, to provide developers with a comprehensive guide to attracting new investors and securing the required funding for projects, even in challenging circumstances. Delegates will be privy to international case studies and studies on Public Private Partnership, and Build Operate Transfer models from Singapore, amongst other initiatives.

The panel discussions at Egypt Real Estate Summit aim to create a new vision for the economy by concentrating on strategies for delivering an attractive investment climate.

“Egypt has taken firm and positive steps towards reform despite the challenges,” said Ayman Sami, Head of Egypt, Jones Lang LaSalle Misr and speaker at Egypt Real Estate Summit. “Market potential remains quite stable and investment continues to flow into the country with the introduction of new retail brands such as IKEA and Victoria’s Secret amongst others. We continue to see a rising demand in the real estate sector for both residential and commercial properties supported by the country’s growing youth population.”

In his discussion with leading property developers in Egypt, including Ahmed Badrawi, Managing Director of SODIC, Ayman Sami will be taking a closer look at the strategies shaping developers’ future plans to ensure continuity, growth and profitable returns.

Putting the spotlight on residential and mixed use developments, Ayman Ismail, partner, chairman and CEO of DMG Mountain View, will discuss land acquisition in the presence of the New Urban Community. Taking into account the four fundamental pillars that shape the real estate industry – commercial, residential, tourism and business – Ismail said he remains confident that Egypt has the full package. In this monumental panel session, Ismail, along with experts in the market including Fathalla Fawzy, chairman of El Mostakbal, Tarek Abdel Rahman, CIO of Palm Hills Developments, and Magued Sherif, CEO of Hyde Park Properties, will explore suitable business models for the Egyptian market whilst addressing the implications these could have on the developer and end user.

In its third and largest edition yet, the summit is welcoming a large number of local and regional CEOs from a wide range of sectors. Expert speakers include: Jean-Paul Pigat, an economist at Emirates NBD, Esam Hafez, country director for Retail Group Egypt, and Ashraf El Banna, vice chairman at Talaat Mostafa Group.

“Egypt’s potential for growth is unparalleled by any other country in the region,” Badrawi said. “All the fundamentals are in place with the country’s geographical location placing it in the center of Africa and the Middle East with easy access to European, Asian and USA markets, an ever-growing youthful population.”

Minister of Housing to address real estate industry