وصف الجلسة [الإنجليزية]Paragraph

Registering and networking

Mr. Amr Elhamy

Chief Executive Officer at TSFE Tourism and Real estate Sub fund

Dr. Islam Azzam

Vice Chairman & Director of the Financial Supervisory Authority

Opening Speeches

By the end of June, the Cabinet issued a decree regulating every aspect in selling the units of property development projects. The Government requires state authorities to include regulations in the documents of the offered property development projects. Also, regulations must be included in the contracts signed with property developers.
Several substantive items are included in the regulations. For instance, property developers must make banking guarantees before implementation. Also, oversight reports by officially accredited agencies must be submitted during development. Such items are positive in terms of exercising more control on developers in the stages of offering projects or managing sales.
The one who follows the statements of operators in real estate market in Egypt will find that they daily complain about the impact of Russia-Ukraine war on the global economy and its effects on the local market amid expectations of decline in companies' sales and investing plans during 2022.
All these factors would directly affect work plans of property development firms. Therefore, we will clearly discuss the impact of those regulations on the firms and how developers take advantage of them.
Points of discussions:
● &nbsp; &nbsp; &nbsp; &nbsp;How do you envisage property sales regulations and their ability to control the market?
● &nbsp; &nbsp; &nbsp; &nbsp;Is there a need to add more items to these regulations to regulate other issues?
● &nbsp; &nbsp; &nbsp; &nbsp;Under these regulations, how do you envisage the prospects of urban development in Egypt?
● &nbsp; &nbsp; &nbsp; &nbsp;What is the impact of the implementation of these regulations on property development firms, especially small and medium sized companies?
● &nbsp; &nbsp; &nbsp; &nbsp;Do the serious firms really apply the bulk of regulations upon launching new projects?
● &nbsp; &nbsp; &nbsp; &nbsp;To what extent there is a need for the banks to intervene to provide funding for units currently under construction.
● &nbsp; &nbsp; &nbsp; &nbsp;What are the guidelines necessary for setting up a federation for running the finished projects, and how to readjust the existing ones?&nbsp;
● &nbsp; &nbsp; &nbsp; &nbsp;Are there any new developments as regards obligating developers to construct green buildings and handle the garbage in the municipalities?&nbsp;
● &nbsp; &nbsp; &nbsp; &nbsp;Could there be a lasting solution to help meet the heavy demand for housing units in the local market?
● &nbsp; &nbsp; &nbsp; &nbsp;How to protect the property wealth in the old North Coast?

Ahmed El Adawy

CEO Inertia Holding Group

Eng. Sherif Hammouda

Chairman of GV Development

Eng. Mohamed El-Taher

CEO of the Saudi Egyptian Construction

Eng. MP. Tarek Shoukry

Chairman of the Real Estate Development Industry Chamber - The Federation of Egyptian Industries, Deputy Housing Committee - Egyptian parliament

Pending the implementation of new regulations on the ground

Surely, the property market depends on three factors including developer, client and contractors implementing projects. In the government and civil society plans for developing property sector and regulating sales, most attention is paid to protecting the rights of customers, with less attention being paid to changes faced by property developers.
We are talking about a serious developer who wishes to implement the project and who has achieved a considerable accomplishment rate on the ground.
This developer has faced many internal and external economic challenges, which affected his plans and escalated the cost of project.
Having mentioned the government role in providing the greatest possible protection of the rights of customers, coming second is contracting companies in terms of protection given their remarkable ability to pass on any increase in cost to the awarding entity (a property developer or a governmental agency), which would reduce their losses due to these crises.
In this session, we attempt to comprehensively talk about compensation in real estate sector and how to support the serious property developer in terms of reducing the burden of challenges instead of forwarding them and granting exemptions from paying installments during certain periods.
Points of discussion:
● &nbsp; &nbsp; &nbsp; &nbsp;How to create a mechanism to support developers in time of crises?
● &nbsp; &nbsp; &nbsp; &nbsp;Does the current atmosphere provide protection to any developer encountering project's languishment or stoppage?
● &nbsp; &nbsp; &nbsp; &nbsp;Can we provide an accurate and standard definition of a serious developer?
● &nbsp; &nbsp; &nbsp; &nbsp;To what extent does Egypt need to localize construction materials manufacturing?
● &nbsp; &nbsp; &nbsp; &nbsp;Has the Egyptian government been successful in supporting innovation in construction materials manufacturing?
● &nbsp; &nbsp; &nbsp; &nbsp;To what extent are developers committed to implement new ideas upon launching new projects?
● &nbsp; &nbsp; &nbsp; &nbsp;How has the government supported the firms of real estate sector during covid-19 period and during Russia-Ukraine war?
&nbsp;
Session Moderator: Head of Property Department at Al Mal newspaper Sherif Omar
Speakers:
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Eng. Ahmed Mansour, CEO of Cred
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Gasser Bahgat, CEO of Madar Real Estate Development&nbsp;
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Ahmed Abdullah, Vice Chairman of Redcon Development&nbsp;
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Mohamed Tarek Kamel Area Managing Director, North Africa Consolidated Contractors Company (CCC)

Eng. Gasser Bahgat

CEO of Amaken Real Estate Development

Eng. Ahmed Mansour

CEO of Cred

Mohamed Tarek Kamel

•	Area Managing Director, North Africa Consolidated Contractors Company (CCC)

Sherif Gamal

Partner at Raafar Miller RMC Consulting

Mr Ahmed Abdullah

vice chairman of Redcon Properties

Cost and compensation... a developer is at the end of series

Eng. Essam El Nagar

Chairman of the General Organization for Export and Import Control

The key importance of having in place a code for regulating the real estate broker

"Property export" was not used as a term in real estate sector more than 20 years ago. But the issue has recently received increased interest. Along with property developing and marketing companies, specialized committees affiliated to the government and civic federations have been created to support property export and facilitate Egyptian product access to international and Arab markets.
Over the past months, it has become customary to talk about organizing a conference or an Egyptian real estate exhibition in external markets such as the Gulf or Europe.
Before holding the exhibition, there are media tumult and repeated statements about the importance of the exhibition and participation in it. However, once it is held, there will be little talk about achieved sales, results and the attraction of foreign customers.
Given the above facts, this would lead us to clearly discuss property export file to assess the situation over the last years and identify the capacity of governmental agencies and Export Council for Real Estate Investment to prepare plans and implement them on the ground. It should be pointed out that Egyptian properties have been serious contenders for benefitting from depreciation of national currency against foreign currencies.
Points of discussions:
●&nbsp; Are all the units demanded by foreign customers available in the Egyptian market?
● Do the Egyptian exhibitions attract the attention of foreign customers other than Egyptians abroad?
● What should the government do to boost and facilitate property sales to foreign customers?
● How successful are the Egyptian conferences and exhibitions organized by the private sector overseas?
● Can the value of recorded sales of foreign customers be clearly disclosed?
● What are the districts in which foreign customers seek to buy units in the local market?

Dr. Bassem Kalila

CEO Kalila Exhibitions

Eng. Alaa Khader

CEO of Scope Real Estate Development

Basem El-Sherbiny

ETQAN’s CEO

Hisham Abu Al-Atta

Chairman of the Holding Company for Construction and Development

Eng. Fathallah Fawzy

Chairman & Directors of MENA Real Estate Development Consultancy

Eng.  Mohamed Al Bostany

Chairman of the New Cairo and Administrative Capital Developers Association

Property export… more talk and less results

When there is a talk about crises relating to global economy and the steady increase in the prices of building materials, which are fully transferred to customers and final selling prices, property development companies always seek financing solutions relating to construction operations or offering flexible collection and payment systems to customers with financing solutions to ensure providing a comprehensive set of services to them.
The last period witnessed the interest of property developers to sign cooperation protocols with several banks to provide mortgage finance service to customers if they wish to buy units in the developers' projects. Also, the government tended to offer mortgage finance initiatives to middle-income earners at a subsidized rate of interest.
Moreover, the market has kept providing more financing solutions. For instance, mortgage finance firms&rsquo; tendency to purchase portfolios from developers with securitization bonds being issued from these portfolios afterwards to ensure obtaining liquidity by mortgage finance companies swiftly.
Nevertheless, all these initiatives have not given the anticipated results. For instance, some developers could not sell any unit through banking mortgage system due to high cost for customer or inconsistency of the unit with regulations. These factors would lead us to discuss the reasons of crisis and how to act to take advantage of any available financing solutions.
Points of discussions:
● &nbsp; &nbsp; &nbsp; &nbsp;How do you envisage banking support to property sector and urban development firms?
● &nbsp; &nbsp; &nbsp; &nbsp;What are the solutions to be applied to revive mortgage finance sector?
● &nbsp; &nbsp; &nbsp; &nbsp;Does the size of mortgage finance match the implemented urban development projects in the market?
● &nbsp; &nbsp; &nbsp; &nbsp;Is the market witnessing more financing modalities applied overseas?
● &nbsp; &nbsp; &nbsp; &nbsp;Is the market providing more innovations in financing offered to individual customers or companies?
&nbsp;

Dr. Mazen Hassan

Chairman of Al-Tameer Co. for Securitization

Dr. Ahmed Fikry

CEO - Contact Developments

Mr. Ayman Abdel Hamid

Vice Chairman and CEO of the Al-Oula Real Estate Finance

Ahmed Emam

CEO of Amlak Real Estate Finance

Dr. Ahmed El-Shennawy

Chairman & CEO of ADVA Developments

Eng. Waleed morsy

Chairman DCI plus architects’ office consultant

Financing Breakthrough

Lunch

Is the property sector really in crisis? At first glance, the answer is " yes" followed by a review of several solutions and proposals that should be considered by the government and developers to avoid the effects of the crisis.
However, realistically, based on the periodic quarterly reports of property firms on business results, it would be clear that firms compete in unveiling the achievement of the highest sales volumes in their history as companies benefitted from growing sales and offering more construction phases in various projects.
Not only did developers unveil sales increase but also, they, as always, kept competing for acquiring more land plots in different new urban areas offered by the government in a way confirming the firms' tendency to expand their land portfolio and launch more projects. The market also witnesses the entry of new players every day.
Through a deep insight into the prospects of real estate sector in Egypt, four challenges facing the sector can be identified. First, how the sector operates under new regulations after being implemented on the ground. These regulations contain highly important provisions to protect all parties and ensure seriousness.
The second challenge is relating to compensations obtained by those affected in the sector including buyers, developers and contractors and whether these compensations are fairly paid to ensure the rights of all parties.
The third challenge is the operationalization of property export file that captured the attention of the government remarkably for many years. This attention is also paid by both property developing and marketing firms as an effective tool to increase sales and attract important customer segments to take advantage of the current level of national currency.
The fourth challenge has to do with how to diversify and offer various financing solutions to developers through banking loans or secondary financing instruments such as securitization bonds, portfolios sale as well as mortgage finance.

4 Challenges Shape Property Sector Prospects 2023

The 6th Real Estate Debate&nbsp;

The 6^thReal Estate Debate

1 Day

24 Speakers

6 Panels

200 Attendees