The show, which came to an end on April 3rd after a four-day run, saw more than a 25% increase in visitor numbers compared to last year.
In addition, Cityscape Egypt has grown close to 10%, with the Cityscape Egypt team successfully selling out all halls at the Cairo International Convention Centre.
The massive uptake in visitor numbers compared to last year’s event is evidence of a steady recovery in the market, with many Egyptians turning up in droves to avail real estate opportunities both in the country and market, and gain insight into the sector from the show’s industry-leading experts.
Egypt is a perfect example of how Cityscape has cultivated a strong presence over the last six years, transforming the event into the largest real estate exhibition in the country.
The show this year had over 90 exhibitors – both from the region and across the world – who used the Cityscape platform to unveil new projects, which will change the landscape of Egypt and fulfil goals under its Vision 2030 strategy.
Last year Egypt adopted economic reforms at all levels, including receiving an International Monetary Fund (IMF) USD 12 billion credit facility, and a currency devaluation, which experts say could prove an advantage for foreign investors in 2017, with the potential to pave the way for economic growth in the country. While Egypt continues to face considerable economic challenges as it confronts the legacy of its recent political history – there is room for optimism in 2017 as the process of fiscal reform is underway and confidence slowly returns to the market, for both investors and consumers.
Visitor numbers on the back of Cityscape Egypt proves this.
“Cairo’s population alone is growing at an average of rate of 2% per year, with housing supply rising by around 1%,” said Tom Rhodes, Exhibition Direct at Cityscape Egypt. “This burgeoning population enables us to provide a platform to Egypt’s foremost developers so that they can usher in change in the real estate sector and provide much-needed housing, not only for today’s Egyptians, but for the generation after them.”
“The turnout at this year’s event is evidence that Cityscape has an established brand presence and that real estate remains a top priority for many Egyptians, even in the most challenging of times,” added Rhodes.
As the country looks to build on investor-friendly relations, Cityscape, and Informa Egypt – which took up office in the country last year – are determined to expand further in the market.
At the Cityscape Egypt Conference, Informa Group CEO, Stephen Carter, told delegates that Egypt was one of the most important markets around the world, adding that the country was brimming with investment opportunities.
Carter stressed the group’s keenness to expand its presence in Egypt, adding that Cityscape played an important role by creating a platform to exchange ideas, spark a dialogue and build a professional network.
“We are very excited to form partnerships in Egypt and invest in joint ventures, which will grow and develop,” said Carter, speaking to a packed venue, which included industry leaders and government officials, including Assistant Minister of Housing, Eng. Khaled Abbas.