Dutch police detain more than 150 in third night of anti-curfew violence    Tennis: Djokovic is our LeBron but we have to call him out sometimes, says Kyrgios    Live score: Pyramids FC v Ahly (Egyptian Premier League)    Minister outlines Egypt's efforts to fulfill international environmental commitments    'Foreign media ignores accomplishments in Egypt,' SIS head says    Injured Tunisian protester dies, fuelling new clashes    What you need to know about the coronavirus right now    Egyptian Premier League fixtures (10th matchday)    Egypt's official gazette publishes verdict placing Muslim Brotherhood on terror list for five more years    Arizona State University names its new film school after Sidney Poitier    Misr Italia Properties launches a new phase at Cairo Business Park    Egypt's stocks close mixed, benchmark EGX 30 declines 0.14% on Monday amid local selloffs    Egypt launches website for vaccination registration    Egypt joins Netherlands, Malawi in supporting UK-led scheme to fight against climate change    German scientists make paralyzed mice walk again    Egypt's Agricultural Bank launches an initiative to settle EGP6.3bln for defaulting farmers    Egypt's Sisi to attend Police Day celebrations at Police Academy Monday    Indonesia seizes Iran, Panama-flagged tankers over alleged illegal oil transfer    Egypt, ILO launch economic empowerment program to secure sustainable jobs for youth, women    British supermodel Naomi Campbell visits Egypt    New daily Coronavirus cases continued to fall over the weekend    Egypt will inoculate medical staff with COVID-19 vaccination this week    South African mourns death of jazz 'giant' Jonas Gwangwa    Eight cabinet ministers to deliver statements before Egypt's parliament this week    Egypt's Sisi to inaugurate fish farming project in Port Said Saturday    Donald Trump says goodbye to the White House    BREAKING: Egypt resumes diplomatic relations with Qatar ending 4-year boycott    Egypt eyes gradual return for tourism after revenues fall to $4 bln in 2020    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    Coronavirus strikes Egypt's youth team as 17 players, coach test positive    Nassef Sawiris plans to up his stake in owner of New York Knicks, Rangers    Cairo International Book Fair suspended for five months over coronavirus concerns    Egypt unveils largest archaeological discovery in 2020 with over 100 intact sarcophagi    Trump says won't blame Egypt for being ‘upset' over GERD dispute with Ethiopia    Egypt, Ethiopia, Sudan to resume Nile dam talks today    Global Finance: Egypt's Tarek Amer among the world's top 20 central bank governors    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

COVID-19 to accelerate real estate company digitisation: Developers
Government, real estate developers can cooperate to preserve real estate market in face of health crisis
Published in Daily News Egypt on 18 - 05 - 2020

The coronavirus (COVID-19) crisis will accelerate the pace of digitisation among real estate companies whilst also encouraging fundamental strategies to maintain and revive demand, according to local real estate developers.
During discussions as part of the "Smart Real Estate Amid COVID-19" webinar held last week, the developers also discussed introducing and engaging in technology as an important step for the property market.
After discussing possible scenarios for a market recovery, the developers added that demand will be revived in the real estate sector when it makes use of technology and smart solutions.
Khaled Abbas, Deputy Minister of Housing, Utilities, and Urban Communities for National Projects, said the unprecedented coronavirus pandemic represents a major challenge for the real estate sector in the coming period.
Abbas emphasised that it is possible for the government and real estate developers to have a joint cooperation protocol. This would include methods of dealing with the pandemic's side-effects, whilst encouraging a complete vision to preserve the real estate market in the current period to overcome this crisis.
He added that digital transformation has become an inevitable part of change, and it is a sector in which his ministry has gained significant experience in e-commerce which developers can apply.
The government move to using online services can be seen in the government's offering of units and land in the Beit Al Watan project to Egyptian expatriates. Information on units and contract terms were placed online six years ago, Abbas said.
He pointed out that contracting companies will play an important role in the real estate sector during the current period. They can preserve construction work timetables whilst also applying precautionary measures to avoid the further spread of the coronavirus.
Amr Soliman, Chairperson of Mountain View, revealed that his company worked with the former director of the Egyptian Chemical Weapons Program on a health and safety protocol in the workplace and at construction sites. Workers have already been trained to follow safety procedures and precautions to prevent the further spread of the coronavirus.
Ahmed Shalaby, President and CEO of Tatweer Misr, said the company has reduced the workforce at its construction sites to between 70% and 80%. It called on other real estate companies to implement the same policy to help protect employee health.
Shalaby said, "All of this may cause additional costs for the developers, but it will actually lead to the best results in terms of adherence to implementation plans and schedules.”
Ali El-Shorbany, Chairperson of Tabarak Developments, said the coronavirus crisis will change Egypt's real estate map, as some real estate fields will be more in demand than others.
El-Shorbany added that the building materials market has remained stable despite the difficult period, with no significant changes in prices. On the back of this, it is expected that property prices will remain stable in the short term, despite the change in demand.
CEO of IWAN Developments, Waleed Mokhtar, believes the pandemic has clearly revealed the lack of medical services provisions within residential communities, which is also one of obstacles that prevent property export.
Mokhtar said, “This must be taken into consideration, as it is expected that the real estate industry in Egypt will witness an unprecedented boom in medical services and hospitals in the near future.”

Clic here to read the story from its source.