Saudi Arabia – Riyadh will host the first Saudi Egyptian Real Estate Investment Conference with the goal of fostering investment opportunities between the two countries. The theme of the conference is “Integration”, amid the growing economic ties between Egypt and the Kingdom of Saudi Arabia, inviting key government authorities, private sector developers and investors, and industry professionals.
Saudi Arabia’s invitation to Egyptian companies aligns with the directives of Egyptian President Abdel Fattah el-Sisi, aiming to provide broader horizons for Egyptian businessmen, enhance economic partnerships, and participate in international platforms to highlight the national projects and cultural development initiatives in Egypt, particularly in the Fourth Generation Cities, including the New Administrative Capital.
Saudi Arabia’s real estate vision
Saudi Minister of Rural and Municipal Affairs and Housing, Majid Al-Hoqail, expressed the Kingdom’s willingness to transfer Egyptian expertise in real estate development and open new opportunities for Saudi investors to invest in Egypt.
Engineer Ahmed Sabour, Secretary-General of the conference and Chairman of the Board of “Al Ahli-Sabour” for Real Estate Development, said “The Saudi Cabinet’s recent decision to regulate the sale and lease of real estate projects on the map provides a legislative framework for financing and purchasing incentives, enhancing investor confidence and creating opportunities for real estate development.”
The Saudi Arabian real estate market is projected to grow from $67.7 billion in 2023 to $94.19 billion by 2028, at a compound annual growth rate (CAGR) of 7.89% during the period between 2023 and 2028.
The Ministry of Municipal and Rural Affairs and Housing in the Kingdom aims to construct 300,000 residential units over the next five years in partnership with the private sector, offering promising opportunities for Egyptian companies to participate.
Addressing investment challenges and opportunities
The conference features three sessions. The first session explores successful partnerships between Egyptian and Saudi developers, addressing challenges and differences in real estate models. The second session focuses on achieving urban development targets in Saudi Arabia and Egypt within the 2030 vision and plan, enhancing cooperation in tourism projects, and addressing challenges in real estate export goals. The third session discusses investment opportunities in the administrative capital, government incentives for real estate development, challenges in the Egyptian market, and the best return on investment in Egyptian real estate.
Basem Kalila, Chairman of the Board of Expo Republic for Exhibition Organization said, “The remarkable success of the last edition of the ‘Nile Real Estate’ event in Riyadh had substantial participation from Saudi Arabia and attracted over 7,800 visitors. The executed transactions were truly significant, making it an exceptional edition in every aspect. This success has also encouraged Egyptian real estate companies to eagerly participate in the eleventh edition in Saudi Arabia.”
Egyptian companies participating in the conference include Al Jazeera Paints, the Administrative Capital Company, National Housing Company, Al Ahly Sabbour developments, Osus Real Estate, Misr Italia Properties, City Edge, Saudi-Egyptian Company, Palm Hills Development, Tameer Misr, Founders, Manzilat, Land Developers, Hyde Park, Egypt-Italy Company, Soma Bay, Redcon Development, Inertia, Marriott International Hotels Group, Gates, IGI, Paragon, Al-Attal Holding Group, and Creed.