Public-Private Partnerships essential to strengthen Egypt's real estate sector
The AmCham Egypt event gathered representatives from major real estate and investment firms, as well as government officials.
Abdallah Sallam, President & CEO of Madinet Masr, emphasised the importance of effective collaboration between the private sector and government to bolster the real estate market.
Speaking at a conference, Sallam noted that the private sector can drive innovation and provide tailored solutions to meet market demands.
Ahmed Badrawi, Executive Vice Chairman of Marakez for Real Estate Investment, urged the Egyptian government to adopt a more flexible approach to supporting the private sector.
Badrawi underscored that real estate developers can play a pivotal role in developing tourism districts, thereby enhancing the tourism industry and driving economic growth.
He emphasised the importance of empowering real estate developers through supportive policies to attract investments.
Geographic & cultural assets
Dimitris Koutoulas, a destination management expert, stressed the importance of developers identifying their target markets and employing strategic tactics to attract investors.
He pointed out that Egypt’s unique geographic and cultural assets make it an attractive destination for global investments, particularly with significant development projects underway in areas like the Red Sea.
Minister of Civil Aviation Sameh El-Hefny highlighted the government’s ambitious plan for the development of Borg El-Arab International Airport and the construction of a new airport in Ras El-Hekma.
The plan, he explained, aims to enhance air travel and accessibility in conjunction with ongoing reconstruction and development initiatives along the North Coast.
These projects are expected to bolster tourism and facilitate the flow of international visitors, he stressed.
Abdelkhalek Ibrahim, Deputy Minister of Housing, highlighted that Ras El-Hekma has successfully attracted $35 billion in investments, establishing it as a premier tourism destination on the North Coast.
He mentioned that this area is set to become Egypt’s second major business centre, following the new administrative capital, emphasising its strategic importance for economic development.
Arab investment
Sheikh Hamad Bin Talal Al Thani, Chief Development and Project Delivery Officer at Qatari Diar, shared insights on the Qatari state-owned developer's commitment to invest in Egypt despite having a presence in 20 countries.
Al Thani expressed confidence in Egypt's real estate market, noting the vast potential for further expansion.
Akef El Maghraby, CEO of Suez Canal Bank, discussed the substantial investments Egypt has made in infrastructure, roads, and logistical hubs to attract investments across various sectors, particularly in tourism and real estate.
He reported that approximately EGP 10 billion has recently been allocated to support private sector projects, reinforcing the commitment to sustainable growth.