Ahmed Sabbour, Chairperson of Al Ahly Sabbour Developments, highlighted the importance of attracting foreign investment to enhance the quality of Egypt’s real estate sector, praising Emaar’s experience as a model to follow, having entered the market twenty years ago.
Sabbour made these remarks during his speech at the second session of the fifth “Decision Makers” conference, held under the theme “Decision Makers in the Real Estate Sector” and sponsored by the Ministries of Housing, Utilities and Urban Communities, Investment and Foreign Trade, and the General Authority for Investment and Free Zones.
He stated that the Egyptian real estate sector requires further development and quality improvement—a responsibility that rests with developers, urging them to work on enhancing their skills and addressing weaknesses to achieve high standards of performance and project quality.
Sabbour pointed out that foreign investment is one of the most important sources of national income, requiring the state to provide all necessary facilities and legislation to attract this type of investment.
He stressed that improving government interactions with foreign investors should start at the grassroots level, as awareness of the importance of foreign investors is a critical role that state employees must embrace.
He explained that enhancing the culture of engagement with investors and creating a positive business environment for foreign investors would have a significant impact on attracting foreign investment, strengthening the Egyptian economy, and generating new job opportunities. Sabbour called for increased awareness among government employees about the importance of foreign investments and their direct impact on Egypt’s development.
Abdallah Sallam, CEO and Managing Director of Madinet Masr, stated that attracting foreign capital has become one of the most critical priorities for enhancing the Egyptian real estate sector, given the significant resources and major projects in the country that support these goals.
Sallam added that the percentage of Egyptian expatriates purchasing real estate in the Egyptian market has surged significantly in recent times, indicating strong demand, market resilience, and product diversity. He emphasized the need for increased efforts to attract more capital and leverage the opportunities available in the real estate market.
Meanwhile, Ashraf Awad, Chairperson of AMG, stated that Egypt’s real estate market has faced many challenges, most notably the rise in the dollar’s exchange rate. However, the NUCA’s facilities have helped ease the burden on real estate developers.
Awad emphasized the importance of public-private partnerships in improving the quality of real estate services, noting that involving private companies in managing neighbourhood services—such as electricity, water, and sanitation—will foster competition among companies and elevate the quality of services provided.
He concluded that these companies could also take on property maintenance responsibilities, ensuring affordable, high-quality services, which would elevate the real estate market and enhance the efficiency of public facilities.
