Second edition of Nile Property Expo-Abu Dhabi 2018 is expected to achieve sales of EGP 2.5bn in the current year compared to EGP 1.2bn last year, according to Bassem Kalila, chairperson of Expo Republic, the organiser of Nile Property Expo. Kalila said that the expo will be held in the period from 29 November until 1 December 2018 in Abu Dhabi, United Arab of Emirates (UAE). He told Daily News Egypt that about 25 real estate developer will participate in the expo and revealed that the expo is being strongly promoted with advertising campaign cost of AED 2m, whereby the expo's space increased to reach 6,700 sqm an increase of 30% in this year compared to 4,000 sqm last year. The company seeks kick off a new edition of the expo in Saudi Arabia and Kuwait in 2019, he revealed. Additionally, he noted that the expo targets exporting Egypt's real estate [buying property to expatriates or foreigners in dollar] to not only Egyptian expatriates but also to people of UAE, Syria, Libya, and Iraq. He pointed out that adopting law for granting temporary residence to foreigners who buy real estate unit in Egypt with value of $100,000 is a crucial element and base for real estate export, besides, the liberalisation of the value of Egyptian pound gives the country an advantage on the level of investment or property export. Egypt is very attractive on the level of investment because the return of investment (RoI) in Egyptian market reaches about 30%-40% compared to 7%-10% in other markets. Moreover, local investing in property is still safe haven to Egyptians more than other sectors, according to Kalila. "The overall mission of the expo is promoting investment in Egypt under symbol of "Misr Betaarablek" or [Egypt is Getting Closer], besides, promoting real estate projects in 14 important new cities in Egypt such as North Coast, Ain Sokhna, New Administrative Capital, Red Sea and other important areas," Kalila pointed out, adding, "this promotion is driven by the urban development process, which is being in full swing. As well, political stability has strongly participated in encouraging property export in Egypt for Syrian, LibyanIraqi people." He said that the Emirati people are very interested in buying property in coastal areas of Egypt, such as New El Alamein, New Mansoura, Hurgahda, and Red Sea. "Nile Property Expo aims to achieve a longlasting momentum as a dynamic platform where real estate developers meet and unveil their projects. Like- wise, such exhibition represents the strong ties and relation between Egypt and the UAE," Kalila commented. Furthermore, he stressed that the expo also targets boosting Egypt tourism in general through promoting variety of real estate projects close to the sea. He elaborated that the three-day event will be dedicated to launching premium real estate developments such as luxury, residential and commercial properties in a B2B-focused platform.
