Thiqa Egyptian Property Show opens today in Sharjah
• Show open from December 13-16
• Commercial and residential properties on offer
• Payment facilities upto 10-15 years
• Units in New Capital City project available
Thiqa Egyptian Property Show opens (Thursday December 13) at Sharjah Exhibition Centre until December 16.
The show, organised by Egyptian Thiqa Property Brokerage and UAE firm Event Gate, includes residential and commercial units offered by 23 Egyptian companies, in the New Capital City, Cairo, Alexandria, the North Coast and Southern Egypt.
Mohamed Dahshwry CEO said projects at Thiqa Property Show include offers suited to the needs and budgets of clients whether they wish to purchase luxury units at the New Capital City, the North Coast and others.
“Payment facilities are upto 10 – 15 years with reasonable down payments. Under the “Beiti Beitak” initiative, flats are sold at cost value in return of a profit of 20 per cent,”
Mohamed Dahshwry CEO explained.
Thiqa Egyptian Property Show targets Egyptians abroad and UAE nationals who wish to invest in the Egyptian property market, or go for tourism.
“Stable and steady monthly incomes of Egyptians enable them to think of investing in properties. GCC investments in Egypt are also lucrative. For example, if a company achieves an EP1 billion of sales, GCC sales would represent 20 per cent.”
Mohamed Dahshwry CEO also pointed out that the show aims to exceed a sales volume of EP1 billion, that is achievable due to many factors including the new law that grants permanent residency or citizenship in return of a property purchase, preceded by strict security checks.
The Egyptian propert market, according to Mohamed Dahshwry CEO, is passing through a very healthy phase following the 2017 recession.
“The year 2018 is prosperous for the Egyptian real estate market and the growth is expected to continue in the beginning of 2019. The rise in prices due to the devaluation of the Egyptian pound in 2017 made clients refrain from buying properties,” he explained.
“Some government-owned banks also imposed a double interest rate in 2017, which led to a halt in the property market. Clients then preferred to invest in hard currency and gold. In 2018, banks cancelled the double interest rate and clients returned to invest in the lucrative property market for its high returns,” he added.
Mohamed Dahshwry CEO stressed that the ratio of commercial property to residential units sales in the Egyptian market is balanced, as clients prefer particular locations like Al Tamagooa Neighberhood for residential purposes vis-a-vis the New Capital City for commercial purposes which they plan to rent in order to gain high returns on investments.