FIABCI Chapter New Round-up

Apr 26, 2018 Latest News

EGYPT
Egypt Think Tank

FIABCI-Egypt, in cooperation with Invest-Gate, hosted the first “Egypt Real Estate Think Tank” with unprecedented attendance from the elites of the market on January 16 at The Ritz Carlton Cairo. The program addressed new cities’ economy, mortgage and finance, and the real estate export. The event, conducted in Arabic, brought together key players in the real estate market to discuss important topics such as the current investment opportunities, remaining challenges, how to attract foreign investors, and real estate financing. The roundtable was moderated by FIABCI-Egypt’s President Eng. Abdel Nasser Taha. H.E. former Minister of Investment and current Chairman of AUR Capital Ashraf Salman moderated the roundtable’s last segment, entitled “Real Estate Mortgage and Finance.”

Among the discussion points are new cities and the investment opportunities they provide, public-private partnerships to develop residential communities, the effects of the currency devaluation on the real estate market and real estate mortgage and finance.

Egypt-Italy Mission

In November, FIABCI-Italia, headed by Mr. Antonio Campagnoli (pictured above, center), and his deputy, Mr. Berlincioni Alessandro, and Mr. Marco Mateini, Chairman of the International Federation’s Sustainability Group, together with a number of investors and representatives of the Italian experience offices, accepted an invitation by FIABCI-Egypt to visit the Suez Canal and the New Administrative capital and a welcome trip in Suez Canal, Ismailia Tunnels, East Port Said Economic Zone and recognition of marshal Mohab Mamish, Chairman of Suez Canal Authority & Economic Zone.

The visitors from Italy were showed a promotional documentary about the Suez Canal Commission, and a short introductory movie about The General Authority for the Development of the Suez Canal Economic Zone. In addition to shedding light on the concept of sustainability and its latest applications in the projects of the Authority, the guests were invited to a cruise in the naval corridor of both the new and the old Suez Canal. Guests were greatly impressed by the size of the achievement and precision of this self-sponsored mega project using Egypt’s own expertise in record time. The guests visited “Ismailia” where they were shown one of the nearly finished tunnel projects passing under the Suez Canal where it will be one of the axels of connecting developments on both shores of the canal.

The Italian delegation visited Port Said, one of the most important pillars of the integrated system of the Authority's economic development projects. They were led by Major General. Abu El Magd Haroun, the Assistant Head of the Commission, who discussed a number of projects to be completed. The technical members participated in a presentation of the ambitious projects such as logistics areas – the size of which has been approved and the momentum it will provide to the international trade movement and Egypt’s large share of them.

To consolidate these concepts, the Assistant Head of the Commission accompanied the Italian delegation and the accompanying group on a field trip to see the greatness of the achievement on the ground, through a visit to the East Port Said Port where they observed the magnitude of the challenges and how they were overcome and the ongoing actual operation of one of the most important international shipping companies for one of the berths of East Port Said Port.

The Italian delegation expressed its full readiness to cooperate in the marketing of the Commission's projects in the federation's offices in 50 countries around the world in cooperation with the representative office of the federation in Egypt through the establishment of a permanent Egyptian-Italian committee.

FIABCI-Italia also expressed its desire to hold its annual general conference in Egypt in 2018 and expressed their condolences for the terrorist events witnessed in Egypt, which will not discourage them from cooperating with Egypt in its ambitious development plans. They expressed their sincere thanks for the hospitality provided by the Suez Canal Development Authority and FIABCI-Egypt.

FIABCI-Egypt in the news and at conferences

In an interview with Shorouk News on October 1, 2017, President of FIABCI-Egypt Eng. Abdel Nasser highlighted the top 10 factors affecting the real estate market in Egypt besides the supply and demand. He highlighted the significance of the weakened buying power of the populace, use of real estate as a vessel of value and the availability of higher return investment opportunities in the short term. Read the full article on Shorouk News (in Arabic; compatible for online translation)>

Eng. Abdel Nasser Taha participated in the UN-Habitat Urban Thinkers Campus in Dubai last October, discussing how to build the cities of the future. He covered themes such as real estate investment and innovation, innovative asset management, smart and sustainable living, and affordable housing.

In the patronage of H.H. Sheikh Hamd Bin Mohammad Al-Sharki, the third conference for Real Estate Investment was held in Al-Fujairah. Eng. Abdel Nasser Taha attended and contributed in the events of the conference, discussing several cases, most notably the role of industry as a catalyst in the system of transformation towards a non-oil dependent economy, green buildings, and resource diversity and sustainable industrial development in the Arab nations. More than 15 official speakers representing 20 gulf and Arabic countries, along with 300+ Arab experts, contributed to enriching conference proceedings.