The 7th edition of the “Decision Makers” Conference kicked off under the theme “Towards an Integrated Vision Between the Tourism and Real Estate Sectors to Support the Egyptian Economy.” This event saw wide participation from top executives, investors, government officials, experts, and media representatives, and was held under the auspices of the Ministry of Housing, Utilities, and Urban Communities, the Ministry of Tourism and Antiquities, and the Egyptian Tourism Promotion Authority.
The opening session was notably attended by representatives from various media outlets, alongside a distinguished lineup of speakers from both the public and private sectors, including Eng. Mostafa Mounir, Executive Chairman of the General Authority for Tourism Development; Eng. Ahmed Youssef, CEO of the Egyptian Tourism Promotion Authority; Eng. Amr Sultan, CEO and Managing Director of LMD; Eng. Tarek Shokry, Vice Chairman of the Housing Committee and CEO of Arab Development Company; Eng. Ayman Amer, General Manager of Sodic; Eng. Mohamed Islam, Executive Director of Ibny; Dr. Amr El-Adl, CEO of MBG; Mr. Mohamed Matawa, Chairman of Matawa Group; Eng. Ahmed Saleh, CEO of Dar Al-Alamia for Real Estate Development; and Eng. Samer Farag, CEO of San & Sam, the conference organizer.
Eng. Samer Farag opened the conference with a welcoming speech, emphasizing that government presence since the first edition has been a cornerstone in supporting decision-making in partnership with the private sector. He noted that this support has motivated everyone to think, develop, and collaborate for the betterment of Egypt, stating, “Without you, we wouldn’t have achieved this success; you believed in the idea and trusted the vision.”
Eng. Mostafa Mounir highlighted that Egypt is currently witnessing an “urban revolution” through smart transformation initiatives and urban management. He pointed out that Cairo has seen the most significant share of this urban development, especially in areas surrounding the Egyptian Museum, the Museum of Civilization, and the religious complex. He added that these efforts align with the state’s tourism targets for 2030 by stimulating investment in the hotel sector and new cities, thus enhancing Egypt’s ability to attract more tourists.
Eng. Ahmed Youssef confirmed that 2024 is expected to witness a significant increase in tourism to Egypt, emphasizing that tourism cannot thrive without a strong infrastructure. He mentioned that state investments in modern roads and transport networks have enhanced Egypt’s tourist and economic appeal. His vision for the authority focuses on considering tourism as a source of hope, work, and national pride, with an emphasis on investing in the Egyptian citizen and protecting heritage.
Eng. Amr Sultan stressed that real estate and tourism development in Egypt are two sides of the same coin, indicating that the state has acquired over 200 million square meters for development in partnership with local and regional investors over the past two years. He asserted that these assets, combined with robust infrastructure, enable Egypt to attract over 30 million tourists. He also noted that the real estate sector is particularly appealing to investors, especially from the Gulf region, and that property exports represent a significant opportunity to double the market size.
Eng. Tarek Shokry stated that the advisory committee for urban development and real estate export addresses all factors affecting the sector to ensure its stability. He noted that discussions about a “real estate bubble” lack factual basis, affirming that real estate remains a safe haven for Egyptians and a key driver of the national economy, urging support for the sector and continued enhancement of investor confidence.
Eng. Ayman Amer emphasized that the partnership between the state and the private sector is fundamental for sustainable development, rejecting the notion of a “real estate bubble” as unrealistic due to the genuine fundamentals of the Egyptian market. He highlighted that the North Coast has emerged as one of the most prominent tourist and investment destinations thanks to modern road networks and advanced infrastructure.
Eng. Mohamed Islam pointed out that the tourism and real estate sectors contribute approximately 30% of the national GDP, noting that promising investment opportunities extend beyond Greater Cairo and the North Coast to Matrouh, the Red Sea, Qena, Sinai, Sohag, and other governorates. He revealed plans for the creation of the largest entertainment city in Upper Egypt, built to international standards, linking tourism and real estate and enhancing regional development.
Dr. Amr El-Adl mentioned that the general developer model was crucial to the success of the New Administrative Capital, outlining its role in planning, land division, and implementing infrastructure like roads, water, and electricity with strict quality standards. He noted that his company was among the first to participate in developing the capital, helping transform it from a concept into a fully integrated city with a modern transport system, government headquarters, an embassy district, and international universities.
Mr. Mohamed Matawa proposed an innovative idea to support tourism through the establishment of floating hotels, allowing tourists to travel between different destinations such as the North Coast, Ras Sidr, and Hurghada without being tied to a specific airport. He affirmed that this idea would diversify the tourism experience and maximize the utilization of closed units, aligning with the state’s objectives for 2030.
Lastly, Eng. Ahmed Saleh highlighted that the opening of the Grand Egyptian Museum represents a strategic opportunity for promoting Egyptian tourism, stressing the need for professional marketing to achieve the target of 30 million tourists. He noted that the tourism sector contributes 12% to the national GDP, while the real estate sector contributes 20%, reflecting their significance in supporting the national economy.
In conclusion, the conference underscored the importance of enhancing cooperation between the public and private sectors to achieve integration between tourism and real estate, recognizing them as vital drivers of the Egyptian economy, with a focus on leveraging investment opportunities and attracting foreign capital to support sustainable development and achieve Egypt’s Vision 2030.
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