Under the slogan "Exporting Egyptian Real Estate Abroad", The United Bank participated in WAFEX 2019 conference held in Saudi Arabia from 9-11 March 2019, under the patronage of Saudi Housing Minister Majid Al-Hawqail, and the presence of a large number of real estate developers from Egypt, Saudi Arabia and the UAE.
Egyptian exports of real estate increased from 2-3 billion dollars annually
The political will represented by The Egyptian government, the Ministry of Housing and the new urban communities aim to increase the volume of Egyptian exports of real estate between 2-3 billion dollars annually, said Ashraf El Kady, Chairman of The United Bank's Board of Directors. It represents about 10% of the current volume of Egyptian exports.
The government has announced the marketing plan for Egyptian real estate across the country and aims to promote real estate investment operations worldwide. It started with the Arab markets for the masses of Egyptians working abroad and also for the Arab brothers, based on the intimate relations between the Arab countries, in cooperation with the major Egyptian real estate companies and the United Bank as a strategic partner.
Export volume of global real estate
Ashraf El Kady said that the volume of exports of real estate in the world amounted to about 150 billion dollars annually in a number of countries and international cities, which encouraged the government and many Arab and foreign investors to enter and own in the Egyptian market, especially as Egypt has great economic and tourist advantages.
Promoting the export of Egyptian real estate abroad, whether for Egyptians working abroad or for Arab brothers and foreigners, is at the top of the current government's priorities. Hence, coordination and cooperation between the Egyptian Ministry of Housing, The Saudi Ministry of Housing, The United Bank and a large number of real estate developers to present their distinguished projects and registered to the pioneers of the exhibition and the 2019 one of the most important exhibitions held in Saudi Arabia.
The decision to grant Egyptian residency in exchange for property ownership
El Kady said the recent decision by the Egyptian government to grant foreigners residency in return for buying a property would contribute significantly to increasing real estate sales in the Egyptian market, as well as attempts to facilitate the process of registration of real estate, whether Egyptians working abroad or foreigners will also contribute significantly.
Select The United Bank for excellence in digital solutions
As for the selection of The United Bank as a strategic partner, Ashraf EL Kady pointed out that the choice came as a result of a package of modern financial and technological solutions that facilitate to the buyer, whether Egyptian, foreign or Arab, to process the transfer of installments and pay all obligations. As well as the existence of a range of mortgage programs those are distinctive and contribute to meet the needs of customers.