MIPIM is a chance to highlight prospects and attract foreign capital, Ahmed Mansour
Eng. Ahmed Mansour, CEO of Castle Development said that the participation of Egypt, represented by the Ministry of Housing, Utilities, and Urban Communities (MOHUUC) and a number of private sector real estate developers, is a very important opportunity to highlight Egypt's real opportunities and development movement and attract more investments.
Ahmed Mansour : "MIPIM Exhibition is aimed at attracting foreign capital and investors"
On the sidelines of the MIIPM 2022 Exhibition, where 'Castle Development' is participating, Ahmed Mansour told 'Osoul Misr' that "the MIPIM Exhibition is aimed at attracting foreign capital and investors. Egypt's participation coincides with the emergence of the development and rebuilding movement's output, as well as the government's investments-supportive actions."
"Egypt's participation will aid in attracting foreign capital, particularly as the Egyptian market has various advantages that have allowed it to maintain positive growth rates despite the outbreak of COVID-19.
The Egyptian real estate sector has proved its resilience, stability, and ability to weather local and global challenges over the last ten years. Despite challenges such as political and security turmoil, the floating of the pound, and the outbreak of the COVID-19 pandemic, the sector continued to develop at a rapid rate. Moreover, real estate prices did not fall despite the severity of the challenges."
He also said that all of these factors have pushed foreign capital to enter the Egyptian market in the last period and invest directly through the establishment of new firms or the acquisition of existing entities.
"Egypt's pavilion at MIPIM is characterised by its exceptional location, with two entrances allowing all exhibition guests to view it, as well as its distinctive and attractive design, which symbolises Egypt and establishes a distinct brand for it." he explained
"Castle Development was planning to attend MIPIM 2020, however, it was cancelled owing to the COVID-19 outbreak. Castle Development is taking part this year after maturing and announcing development plans in east and west Cairo," he came to a conclusion.
The Egyptian government, represented by the Ministry of Housing, Utilities and Urban Communities, is taking part with a special pavilion that showcases a number of distinctive projects in new cities, including the NAC's central business district, the new Garden City district, and the NAC's central parks, including the 'Green River.'
The Egypt Pavilion features a variety of projects in New Alamein City, including the beach towers area, the Latin District, the heritage city, and a number of projects in New Mansoura City.
Efforts to develop existing places in old cities, such as the Magra El-Oyoun Fence development project, the Promenade for Egypt's People project, and others, are also featured in the Exhibition.
City Edge, GV, Tarbul, Palm Hills, Mountain View, Sodic, Tatweer Misr, LMD, Castle Landmark, Al-Borouj Misr, Prime, Pavilion, and Okoplan are among the private sector enterprises attending the MIPIM Exhibition.
