2013-10-09 10:35:06 - Buoyant Egyptian real estate market offers solid business & investment prospects
October 9, 2013
TASWEEK Real Estate Development and Marketing, an advisor and solutions provider serving the real estate markets, has today (Wednesday October 9, 2013), signed a Memorandum of Understanding (MoU) with Go Green Egypt Co. for Property Management at Cityscape Global running from October 8 to 10, 2013 at the Dubai World Trade Centre, to mutually pursue prime real estate opportunities in the UAE and Egyptian markets.
The agreement was signed by TASWEEK CEO Masood Al Awar and Go Green Chairman and CEO Hisham El Masry. Under the terms of the MoU, TASWEEK will market real estate products recommended by Go Green to the UAE and collaborate with its new partner to acquire assets, make strategic investments, and explore joint
venture opportunities. Go Green, on the other hand, will assist TASWEEK in offering its own portfolio to the Egyptian market and pursuing promising local business prospects.
TASWEEK’s market outlook for Egypt is strong given the agreement forged between Egypt and the UAE to invest in projects related to social housing and public facilities. Gulf investments in Egyptian real estate market overall are on the rise following several domestic measures rolled out to boost the sector. Moreover, the Egyptian market will require at least 800,000 residential units to meet current demand.
“There are several market movements and government initiatives that are further enhancing Egypt’s real estate appeal. Our partnership with one of the biggest names in Egyptian real estate will enable us to effectively look at leading domestic real estate prospects while offering our own global stable of properties. Like TASWEEK Go Green also offers a bouquet of industry expertise extending from sales up to property management so we share a one-stop-shop approach to meeting the needs of our respective markets,” said Al Awar.
Go Green Egypt Co. for Property Management is a 100 per cent Egyptian owned company specializing in Property Management and Real Estate Marketing inside and outside of the country. Founded in 1994, the company is chaired by Eng. Hussein Sabbour, a pioneer in Egypt’s engineering consultancy field. More company information is available at www.gogreenegypt.org
TASWEEK Real Estate Development and Marketing has over 20 years of expertise in Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy. It currently manages an international real estate portfolio worth around USD 250 million portfolio. TASWEEK draws from its core competencies of networking and know-how to provide the right property solutions to the right clients.