Business & Money | Wednesday 11 April, 2018 4:26 am |

Following its success in 2017, Egypt Property Show (EPS) is returning to Dubai with a 3-day exhibition starting April 12 at the Dubai World Trade Center. Organized under the patronage of the Egyptian Prime Minister’s Office, the event brings to the UAE numerous investment opportunities in Egypt’s real estate market. 

 

With a vision to export the Egypt’s property estates to Egyptian expatriates and foreign investors, EPS will bring together an array of public and private property developers including Emaar, SODIC, Palm Hills, Hyde Park, MNHD and City Edge. The event is hosted by Al-Ahram Foundation in partnership with Spectrum Dubai.

 

In a statement, Prime Minister Sherif Ismail said: “Egypt is witnessing unprecedented changes on all levels. In fact, the government has been working incessantly on finding solutions to redress the economy and secure sustained development. This is why we have proposed many reforms and legislative measures - soon to be implemented - which are going to ease the acquisition of estates and attract more and more investors.”

 

“It is of utmost significance to find honorable partners who believe in the potential of the Egyptian property market, as much as we do. We have no doubt that the UAE will support our commitment towards strengthening Egypt’s economy as all market indicators seem promising. We trust that our fraternal and amicable relationship with the UAE will add to our development endeavors,” affirmed Ismail. 

 

Prior to the exhibition, an open house investor summit will be held on April 11th at JW Marriot Marquis. The event will be attended by two notable government delegations, including representatives from the Ministry of Housing, Utilities and Urban Development, as well as the Ministry for Investments and International Cooperation. Joining the ministerial delegation will be His Excellency Wael Gad, Honorable Ambassador of Egypt to the UAE. The delegation will discuss important updates on major projects that are set to change the Egyptian economic and demographic landscape. On top of the list will be the new administrative Capital and the New Al-Alamein City.  

 

While the first project aimed at decongesting the old capital by shifting important public directorates, building new housing units and creating new job opportunities; the new Al-Alamein 

 

city is expected to transform the Mediterranean coastal line into an integrated city all year round, which will be primarily guaranteed by the building of new social houses, industrial area, universities and recreational facilities.

 

The International Monetary Fund (IMF) suggests that Egypt’s economy is expected to grow by 4.5% in 2018, especially after the implementation of the new investor-centric law. This will grant foreign investors equal treatment to nationals.