With investments exceeding one billion pounds Blue-Blue & LAVIDA
investments exceeding one billion Blue-Blue & LAVIDA
Metawee Group announced its participation in the activities of “Cityscape Exhibition” which kicks off in the sixteenth of September at the Cairo International Conference Center. Metawee is participating as one of the leading property development and investment companies in Egypt with an enormous portfolio of diverse touristic and residential projects which is 100% self-funded.
Metawee Group will be presenting its latest touristic project “Blue Blue” Ain Sukhna resort, which comes in line with the Group’s target framework and new expansion plans adopted; to start a revolution in the real estate sector and to access new markets in tourism investment in the North Coast, Ain Sokhna and the real estate sector in New Cairo, New Heliopolis , EL Sheikh Zayed and October; as well as the development of its business areas to include administrative and commercial.
Mohammed Metawee, Metawee Group Chairman,
Said that “Cityscape” exhibition is an important way to achieve the objectives of the real estate companies and Metawee group in the Egyptian market
during the current period because it provides an opportunity to highlight the strength and diversity of the real estate sector in Egypt. Metawee confirmed on the strong presence of the company during the Cityscape exhibition, which is the largest real estate exhibition in Egypt and the Middle East.
► He added that Metawee group will exploit this exhibition to showcase its new Project Blue-Blue Resort which is a touristic resort with unique features and a prime location. The project is located in the area of windmills for renewable energy and it is 30 kilometers away from the mountain which is and divided into a variety of different spaces to fit the needs and potentials of different families starting from 100 meters and up to 315 meters. The units are overlooking the swimming pools, and the project is designed to be on different levels so that all the units could see the sea.
► Metawee explained that the Cityscape exhibition represents an ideal opportunity to share knowledge and communicate with representatives of the government and businessmen on the sidelines of the exhibition, as it represents a real opportunity to revitalize the real estate market, especially since it offers a variety of real estate products to suit different segments of customers. The exhibition also gives an important opportunity for companies to get to know the nature of the units that the client is trying to get, to be included within the companies’ plans for the upcoming new projects.
► Metawee stated that the Egyptian real estate sector is achieving good growth rates during the current year, which is boosted by an increase of demand and supply in the market and hard work by the government to remove all obstacles facing the real estate investors in the Egyptian market.
► Metawee highlighted that the investment and construction real estate unified laws require adjustments in order to put the country land in the developer system. He continued “the partnership system which is recently developed by state is one of the good systems which lead to the development of the real estate sector dramatically. Although urgent amendments for the real estate regulations are needed in order to facilitate procedures , as Law 119 impede a lot of actions in the implementation and the land conducted by the State did not get the army approvals and did not specify the heights ratios, as it is necessary that the real estate regulations state that only the lands with approvals from the concerned authorities would be put up for sale and that all lands posed by the State should have all approvals to be able to contribute to an allocated time period in which the project is implemented.
Metawee Group & Support the economy
Metawee added that one of the most important regulations for the sake of protection the Egyptian market from speculators and seriousness investors is the classification of real estate companies as the government must establish regulations by linking the company’s capital and commercial register with the project at hand to protect the state from the land speculation, which have sprung up recently. He, also, stressed on the need to amend Unified Construction Law in a way that eliminates building violations, and the State must put land according to obtain Prior approvals and not to put land without facilities, in addition to categorizing the houses so that citizens choose the appropriate housing.
Metawee noted that the timing of the “Cityscape Exhibition” suits the current period, which witnesses a significant move for the real estate market, as well as the willingness of many foreign investors to start new investments in the market, and their need to have a clear vision on the Egyptian real estate market, adding that CityScape Exhibition will achieve all these aspects and it will witness the presence of a large number of investors and real estate developers as well as government officials