Abu Dhabi is hosting the second edition of the Nile Real Estate Conference and Exhibition under the slogan “Egypt Is Getting Closer to You” at the Abu Dhabi National Exhibition Centre (ADNEC) from 29 November to 1 December 2018, under the patronage of Dr. Mostafa Madbouly, Prime Minister of Egypt and Minister of Housing. This comes following the great success achieved by the first edition of the exhibition, which was held in mid-December last year.

The exhibition aims to showcase the most important real estate investment opportunities and highlight the most successful Emirati projects in Egypt. It also brings together a number of Egypt’s leading real estate developers, in addition to members of the Arab business community and those interested in investing in Egypt’s real estate sector.

The United Arab Emirates is considered one of the largest investors in Egypt, particularly in the real estate sector. Emirati investments in Egypt’s real estate market have exceeded EGP 94 billion, alongside numerous successful investments, most notably Sheikh Zayed City in 6th of October City, which was established in 1995 through a grant from the Abu Dhabi Fund for Development known as the “Sheikh Zayed Grant.”

In a previous statement, Dr. Mostafa Madbouly, Prime Minister of Egypt and Minister of Housing, said that the Egyptian government strongly supports the idea of exporting real estate and that no distinction will be made between government-owned units and those developed by the private sector. He also noted that the government is ready to participate in international real estate conferences and exhibitions to support the export of Egyptian real estate to the world.

Madbouly explained that the Ministry of Housing, Utilities, and Urban Development has developed a plan targeting annual real estate export revenues ranging between USD 2–3 billion, in cooperation with major Egyptian real estate companies. Some developers have allocated between 20% and 30% of their project units for marketing abroad, whether in Arab or European countries, as part of the government’s program to support the export of Egyptian real estate.

Dr. Bassem Klela, Chairman of Expo Republic, the organizer of the Nile Real Estate Conference and Exhibition, stated that real estate investment is one of the most important sources of income and one of the key long-term investments in Egypt. He emphasized that Egypt represents one of the most attractive markets for foreign investment, given its significant resources and strong investment appeal, particularly the abundance of land and the availability of high-quality services, especially in new cities.

Klela added that attracting real estate investments to the Egyptian market will support and stimulate the economy and open new markets in the region. It will also have a positive impact on boosting Egypt’s tourism and entertainment sectors, generating additional foreign currency income for the country.

He further noted that Egypt’s overall investment climate has become more supportive of attracting investments, particularly after the issuance of a decision by the Minister of Interior allowing foreigners to obtain temporary residency permits for non-tourism purposes for periods ranging from three to five years, renewable, for those who own one or more properties in Egypt.

Klela explained that the Nile Real Estate Conference and Exhibition is one of the most important tools for marketing and exporting the Egyptian real estate market by providing real investment opportunities sought by Arab and foreign investors in Egypt. This year, the exhibition targets approximately EGP 2 billion in sales for the participating real estate development companies.

He also pointed out that the organizing company, in cooperation with the exhibition stakeholders, has allocated exhibition space for the Ministry of Housing, Utilities, and Urban Communities in support of the ministry’s efforts to promote real estate exports, market national projects, and attract foreign investments.

Klela highlighted that some of the most prominent Emirati projects in the Egyptian real estate market include Marassi with investments of EGP 22.5 billion, Uptown Cairo with investments of EGP 13.5 billion, Mivida with investments of EGP 17.5 billion, in addition to the Al Burouj project, which aims to develop 30,000 residential units east of Cairo across 1,212 feddans between the Suez and Ismailia roads, with investments reaching EGP 40 billion.

He also mentioned plans to establish Emirati investment projects in the New Administrative Capital and New Alamein City on the Mediterranean coast, as well as in Cairo, South Sinai, Port Said, and Ismailia, as part of efforts to support the Egyptian economy and create job opportunities for youth. Several entertainment and retail projects have also been developed, including Mall of Egypt in 6th of October City, Cairo Festival City in the Fifth Settlement, and City Centre Almaza on the Cairo–Suez Road.

The exhibition will feature participation from Egypt’s leading real estate development companies, aiming to exchange expertise at regional and international levels, strengthen the real estate sector, open new markets in the Arab region, and build strategic cooperation and partnership relationships with some of the most prominent Emirati real estate developers, who now possess extensive regional and global experience in real estate investment and development.