Ahmed Shalbi, CEO of Tatweer Misr, said that the private sector should work on attracting hard currency, specifically U.S. dollar to Egypt and focusing on real estate exports.
Shalbi added that the private sector is not affiliated to the government as 50% of the private companies’ profits are conducted outside of Egypt. This means 500 billion Egyptian Pounds out of the trillion-pound real estate sector sales are achieved by Egyptians and foreigners outside of Egypt. Therefore, this amount should be converted to dollars instead of Egyptian pounds.
Furthermore, Ahmed Shalbi highlighted the importance of studying how to ensure benefits for all stakeholders involved in the real estate sector: the developers, the state, and the clients. He emphasized that a successful approach should create a win-win situation where each party can thrive and contribute to the sector’s growth. By fostering a balanced and mutually beneficial ecosystem, the real estate industry in Egypt can continue to flourish, attracting investments, creating job opportunities, and driving economic development.
The Decision Makers Conference is being held in its third edition, dedicated to the real estate sector following the comprehensive urban renaissance witnessed by Egypt. The conference is held under the auspices of the Ministry of Housing and involves high-level representatives from the government and private sector company presidents.
The conference is organized by “San and Sam,” one of the largest companies specialized in organizing major conferences and events for over 15 years. Among its notable previous works is organizing “The Marketers League” conference, considered the first annual marketing event of its kind in the Arab world, working on keeping up with and developing the marketing system in Egypt and the Middle East. It has been organized for 7 editions over 7 years. Additionally, they have organized the “Youth Social Responsibility” conference (YSR) to support the leading role of youth in community work through organizing 3 conference editions.
