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A promising event for the real estate sector

Ahram Online , Monday 24 Sep 2018
Egypt Property Show (EPS) the International Real Estate Exhibition that will be held in London, UK,
Egypt Property Show (EPS) the International Real Estate Exhibition that will be held in London, UK, from 24 to 26 November 2018
Views: 3827
Views: 3827

The Egypt Property Show (EPS), an international real estate exhibition that will be held in London, UK, from 24 to 26 November 2018, will be organized by Spectrum, in cooperation with Al-Ahram Advertising Agency.

In accordance with the directives of President Abdel-Fattah El-Sisi, the exhibition, which began in Dubai in May 2017, will support the real estate sector by opening the door to developers to show their properties to other countries.

EPS aims to promote investment in the real estate sector in Egypt, which has witnessed a big boom in the last two years due to the support of the government, which has invested more than EGP 43 billion into the real estate sector over the past two years, compared to the EGP 30 billion spent over the previous 20 years.

The exhibition will bring major real estate developers together where they will be able to gain strong brand exposure while promoting and showcasing their products to a vast audience with the aim of becoming the biggest real estate exhibition targeting both Egyptian expats, estimated at around 450,000 people, as well as Arabs and foreign investors abroad who are interested in investing in Egypt.

The show will also offer a greater opportunity for real estate exhibitors to target a new market, facilitate contracting, direct sales and turnkey housing units, especially after the looming degeneration in sales that threatens the growth of the sector in the Egyptian market.

EPS aims to promote the real estate products especially where Egyptian property prices are relatively low, due to the devaluation of the EGP, to those who live abroad.

Abdul Mohsen Salama, the chairman of Al-Ahram, stressed the importance of setting up international exhibitions, especially in the real estate sector, as a means to open new markets for real estate developers to promote and sell their products.

 "This exhibition will promote investment into Egypt's real estate and will attract foreigners, in line with the directives of President El-Sisi, whereupon the real estate sector can increase its contribution in the GDP," Salama said.

Why London?

London is one of the most diverse and densely populated cities in the world, featuring a strong economy and many foreign nationals. As of January 2018, London had a population of 10.6 million, with an estimated 12% of them from Arab descent.

Many Arabs and Egyptians find themselves desiring a first or second home in Egypt. Whether on the Red Sea or the Mediterranean, Egypt has become an increasingly popular destination for many Arabs and foreign investors.

According to the World Bank, the UK has the highest GDP per capita income in the EU. Egyptian expats and Arabs in the EU can make use of their disposable income and can take advantage of the exchange rate disparity by investing in Egypt.

Wahid Atallah, executive vice-chairman of Spectrum Consultancy, stated that the partnership between Al-Ahram Advertising and Spectrum has existed for two years and confirmed that it will continue successfully for years to come. He also mentioned that the choice of London as a new venue is a real turning point for EPS.

"We are interested in organizing the exhibition in the best possible way to show the value in the real estate market in Egypt, whether for Egyptian expats in London or Arab communities," he said.

Atallah added that “ExCel London is the most important and largest exhibition centres in London, and despite its distance from downtown, the weekend will allow for a large influx of visitors.”

"EPS will allow for the creation of real demand for Egyptian properties, which will contribute to the increase in sales of real estate developers participating in the exhibition due to the strong purchasing power of the Egyptian expats and the Arabs who want to buy a distinctive property in different places in Egypt such as Hurghada, Sahl Hasheesh, Soma Bay, Ain Sokhna, North Coast, Zayed and 6 October, with a very large diversity of products,” he concluded.

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