Appeal of Egypt's real estate bolstered by local currency flotation

08 Nov 2017

Both Ministry of Housing and Immigration are poised to inaugurate Egypt's first exhibition in the United States since 2005, with the aim of promoting the Egyptian real estates there.

Nevin Morris, founder and co-partner in the American Company for Trading and Marketing and the organizer of the exhibition held under the title ' US-EG-SCAPE' said the exhibition targets a number of visitors ranging from 14,000 to 20,000 visitors comprised mostly of Arab and Egyptian expatriates, as it invites them to buy properties in Egypt.

Results of a survey conducted by ACTM demonstrated that 48% of multiple segments of Egyptian expatriates and Arabs supported owning properties in Egypt, according to Morris, noting that Egypt's increasingly political stability and the economic decisions taken recently including floating its local currency help increase the allure of the Egyptian real estates in the eyes of foreigners amid the currenct depreciation of the EGP against the US dollar.

ACTM, founded just one year and a half ago in the U.S, seeks to market the Egyptian products abroad, as it has previous experiences in promoting Egyptian cotton-based garments in the U.S.

US-EG-SCAPE Exhibition, due to be held in New Gersy, has adopted multiple mechanisms for marketing its products, as media outlets such as ART, and MBC America have been tapped for broadcasting its advertisements.

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