Nile Property Expo to start off in Riyadh February 17th

The leading real estate exhibition Nile Property Expo (NPE) will be launched in the Saudi Arabian capital Riyadh from 17- 19 February. The exhibition is a part of the biggest marketing campaign for the Egyptian real estate in the Gulf countries. The exhibition period will be extended until the end of February, as it will be also held in Jeddah from 24-26 February. The step came as an assertation on the amount of the growth and development achieved in the latest years in Egypt, as the Egyptian economy had witnessed a positive growth rate in 2020 despite Coronavirus pandemic. In 2021, the Egyptian economy achieved its highest rates of growth in 20 years, through the first quarter of the fiscal year of 2021-2022, with growth rate up to 9.8% comparing to 0.7% in the first quarter of 2021-2022.

 

The Egyptian construction sector achieved 10.5% growth rate as a result to the investment increase in the New Urban Communities Authority. For his part, Expo Republic Chairperson Bassem Kalila said that NPE aims to promote for the Egyptian real estate and the currently available investment opportunities, noting that the Egyptian real estate is well known of achieving the highest return rate across the Middle East, as the real estate return rate varied between 20 % and 25% each year. Kalila added that 18 real estate development companies will take part in NPE, as they will introduce distinctive projects in various 4G cities across Egypt like the New Administrative Capital (NAC) and El Galal City, along with projects implemented in New Cairo, Shiekh Zayed City, 6th of October City and coastal cities like Egypt’s North coast Al Ain Al Sokhna. He added that there is a competition between the participated companies in the exhibition to present high quality products with significant offers, prices and longer period of payment plan, which is one of the good characteristics of the Egyptian market.

 

He elaborated that NPE series is seeking cooperation with the hosted country to promote for the investment opportunities and to attract local and foreign money, along with attract investments In Egypt. He referred that NPE will be headed to Canada and New York in May, then be back to be held in Qatar and Kuwait. He said that the selection of hosted countries was based on the amount of expats and interested communities in the Egyptian market. Nile Property Expo is continuity to a success series achieved in Gulf area over the past four years, as it introduced a number of distinctive real estate projects across Egypt with the highest return rates in the Middle East.