The second version of Egypt’s Next Move real estate exhibition is getting ready to take place from April 28, 2009 through May 1, 2009. The first edition of the exhibition was a resounding success with 20,000 visitors, and the 2009 show is expecting more than 30,000 attendees. It will be held in the Cairo International Convention and Conference Center in Nasr City just minutes from the airport and downtown.
The conference is being held at a time when worldwide demand for real estate has been hit by the current economic crisis, but Egypt has been able to weather the storm so far. The real estate sector in Egypt has continued to do well as a result of several factors. The most important one is that there is a severe shortage of new housing in the country, so there is a continuing demand for property. Additionally, Egyptian buyers don’t rely on loans to finance their purchases, so the market isn’t nearly as susceptible to the credit crisis that is hitting elsewhere.
Ahmad Ghozzi, Chairman and CEO of conference organizers ACG-ITF, notes that “Egypt’s real estate sector continues to perform well in contrast to those of other regional players which are struggling to cope with current market and economic conditions.”
“There is still a large gap between supply and demand which developers can capitalize on, especially in family centered projects as there are about 500,000 marriages annually. In addition, the general view towards the crisis is not as gloomy in this part of the world,” he added.
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