Mohamed Gbashi, Chairman of SCOP Real Estate Development Company, reviewed a number of mechanisms that support the direction of the State and the private sector towards expanding the export of real estate and contribute to the promotion of this vital file that contributes to the provision of hard currency for the Egyptian economy, especially with the competitive advantages enjoyed by Egyptian real estate in light of the comprehensive urban development currently being implemented by Egypt
He added that he coincided with the events of the “Urban Development Forum”, which is scheduled to be launched from 4 to 8 November in Egypt There is a strong opportunity to expand the interest of foreign clients present in Egypt to attend the forum, Focus on their definition of the size of the urban renaissance in Egypt with the offer of real estate projects offering globally competitive real estate products suited to the choices of the foreign customer, Noting that the forum will be a strong nucleus for expanding the property’s export file
He explained that the proposed mechanisms for expanding the export of the property include the establishment of an electronic platform, a website and an electronic application, so that the website and application include the state-approved real estate developers that are allowed to sell residential and commercial units to foreigners, in addition to the work of a unified sales contract for foreigners approved through the competent authorities.
He stressed that the most important factors for the success of the property export file include the provision of government facilities so that the Government’s incentives to Arab investors such as facilitating ownership procedures, providing payment options in foreign currencies, and providing legal guarantees to reassure the customer of his investments
He noted that these factors also include the axis of competitive prices, so that real estate prices in Egypt are compared to those of other Arab countries, focusing on the value for price offered by Egyptian properties, pointing out the importance of focusing on the attraction of tourism so that real estate investment is linked to Egypt’s tourist attraction, and highlighting real estate projects located in tourist areas
He added the importance of focusing on sustained economic growth in Egypt, an attractive factor for real estate investment. The foreign client is looking for a stable economy and is constantly growing to achieve a high investment return. He is also looking for a sustainability element in development and development, which exists in the Egyptian market in light of the state’s comprehensive urban development plan that it implements.
He noted the importance of obtaining expert opinions in the field of real estate on the future of this sector in Egypt, highlighting the challenges facing the Egyptian real estate sector, and making recommendations to enhance the attractiveness of real estate investment in Egypt, which the foreign customer needs to know before entering the Egyptian market. The answer to these questions contributes to a comprehensive picture of buying a property in Egypt
He stressed the importance of presenting success stories to Arab investors who have invested in Egypt, so that their experiences are highlighted and how they have benefited from this investment. The foreign customer wants to see a real and successful experience in front of him that helps him in decision-making and investment in the Egyptian real estate market.
