Engineer Amr Sultan, CEO of LMD, announced that Egypt has the potential to achieve real estate export revenues exceeding $30 billion by 2025, compared to around $1.5 billion achieved in the previous year. He affirmed that reaching this level requires a reformation of marketing, regulatory, and registration mechanisms.
This statement was made during his speech at the first session of the fifth edition of The Investor Conference, organized by Black Diamond in collaboration with the Real Estate Development Chamber of the Egyptian Industries Union, under the slogan: “Egyptian Real Estate: A Global Inspiration and Gateway to Investment.”
Event Details
Sultan explained that the Egyptian market needs a more professional external marketing strategy that directly targets foreign investors, not just Egyptians abroad. He considered this step a key to increasing real estate export flows.
He pointed out that Egypt possesses strong competitive advantages supporting this trend, including distinctive geographical and coastal diversity such as the North Coast and the Red Sea, along with a boom in infrastructure projects like roads, monorails, and railways, as well as port development and enhanced logistical connectivity, in addition to its strategic geographical location linking the continents of the world.
Background & Context
Despite these advantages, Sultan noted that the main challenges lie in the weak property registration system, as reliance on unregistered contracts diminishes foreign investor confidence. He called for the establishment of a specialized authority to register developers and projects and grant them reliable accreditation certificates, thereby enhancing credibility in foreign markets.
He also mentioned that current contracts between investors and the Urban Communities Authority represent “development contracts” that need improvement, urging the creation of an independent authority for registering real estate sale contracts to facilitate sales to foreigners and enhance market transparency.
Impact & Consequences
Sultan concluded that developing the legislative and regulatory framework, along with improving external marketing tools, could position Egypt on the map of leading countries in real estate exports in the coming years. This requires concerted efforts from all stakeholders in the real estate sector.
Enhancing confidence in the Egyptian real estate market through effective regulatory reforms can contribute to attracting more foreign investments, thereby boosting the national economy and creating new job opportunities.
Regional Significance
Egypt is considered one of the largest real estate markets in the Arab region, and its successes in real estate exports could influence neighboring countries. If Egypt achieves its goals, it may become a model for other countries in the region seeking to enhance their real estate sectors.
In conclusion, this trend represents a significant opportunity for Egypt to strengthen its economic position and increase its revenues from the real estate sector, benefiting the national economy as a whole.