Increase in demand and supply in the market and hard work by the government led the real estate sector to achieve good growth rates during the current year, Metawee Group’s Chairman Mohammed Metawee said.
The chairman added, however, that some real estate investment and construction laws require amendments to further the sector’s development.
The company recently participated in the CityScape Exhibition, which took place last month. The real estate company showcased its Blue Blue resort project.
The project is located in the area of windmills for renewable energy. It is divided into a variety of different spaces to accommodate different families, starting from 100 sqm and up to 315 sqm.
Metawee said the timing for the exhibition was suitable due to the “significant move for the real estate environment” and the “willingness of many foreign investors to start new investments in the market”. He added that a clear vision for the market must be provided.
The group’s portfolio in touristic and residential projects is self-funded.
Metawee is seeking to start “a revolution in the real estate sector and to access new markets in tourism investment in the North Coast, Ain Sokhna and the real estate sector in New Cairo, New Heliopolis , EL Sheikh Zayed and October; as well as the development of its business areas to include administrative and commercial”.
