‘The investment climate in Egypt is very positive’
Ahmed Shalaby, CEO and MD, Tatweer Misr
Egypt has become an attractive destination for investors looking for opportunities in real estate, Ahmed Shalaby, CEO and MD, Tatweer Misr, told Real Estate Day.
‘The investment climate is very positive’, he said. ‘Investors who come to Egypt can get high yields and good exit scenarios. All the factors are in place to make it happen’.
Tatweer Misr is developing three large mixed-use schemes that combine residential, hospitality, retail, offices, entertainment and leisure facilities.
One is on the outskirts of Cairo, near the administrative capital, and in addition to residential, retail and office component it will also host the first American international campus in Egypt, with a secondary school and a University.
‘High quality education is badly needed in Egypt so this is an important step,’ Shalaby said. ‘We have just signed an agreement with the New Jersey Institute of Technology, a very prestigious American university which will make a real difference to the development and to Cairo”.
The group is also at the delivery stage of the initial phase of two second home luxury destinations, Monte Galala on the Red Sea and Fouka Bay on the Mediterranean, on the North Coast of Egypt.
‘We like having a diversified portfolio’, he said. ‘We like to say that we do not just build real estate but we like to create communities so we pay attention to every single detail’.
Sustainability is a key principle in all developments, Shalaby said: ‘We are focusing on all aspects, we do a lot of urban mobility solutions inside our developments, water treatment for irrigation, recycling, waste management, collection and recycling’.
Another important factor is innovation. ‘We focus on the design itself and how to make it unique, but we have also signed agreements with world-class partners to provide high levels of smart tech solutions in our communities,’ Shalaby said. ‘For example we partnered with the Schneider group to develop a smart hub to manage all our facilities’.
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