The Real Estate Development Chamber at the Federation of Egyptian Industries (FEI) has signed a cooperation protocol with a Kuwaiti Nova Media company to support the state’s plan to expand in exporting Egyptian real estate.
Osama Saad Eddin, CEO of the Real Estate Development Chamber, said the protocol implements the state’s policy to support the export of Egyptian real estate abroad and open new markets for local property.
This comes particularly given the competitive global advantages of domestic real estate. As a result, the Chamber has contracted with Nova Media, a regional entity in the GCC market and which has offices spread across that region.
Saad Eddin added that this agreement will provide support to all real estate companies in the local market that plan to market their projects outside Egypt and who wish to have a strong presence in the GCC market.
Accordingly, Nova Media would provide temporary headquarters for these companies, whilst providing complete data about the market in which it plans to be present.
Additionally, it would assist real estate companies in organising any events or exhibitions to introduce GCC markets to projects. This will take place with the necessary publicity and receiving all approvals to obtain a licence to market their products in the GCC, as well as providing the chamber with all information it needs about those markets.
