President of the Egyptian Junior Business Association’s (EJB) Tourism and Aviation Committee and businessman Mohamed Kaoud said on Thursday real estate development expansion creates investment opportunities in hospitality and Tourism, citing holding CityScape Exhibition nowadays.
The expo hosts leading developers in Egypt, providing a wide variety of buyers looking to invest around the country in residential, industrial, hospitality, or real estate investments.
Kaoud underlined that the Egyptian consumer's shifting demographics and lifestyle play a crucial role in the growth of a city. Not only does the quality of the apartment or villa construct things, but it is the basic community elements that complete a society, such as the availability of targeted convenience stores, F&B venues, medical services, schools, and hospitality ventures.
Kaoud said: "In reality, COVID-19 has increased the demand and importance of providing social infrastructure in future citations and innovations, offering the environment within the communities of 'live, work and play'.
"Although Egypt is creating new cities nationally and encouraging private-sector commercial investment, the construction of sustainable cities that enable families to move and live in these new destinations remains a challenge."
To address this challenge, cities that focus on economic growth and encourage job creation need to be planned and built.
The demographics of Egypt are continuously evolving and adjusting to new developments in lifestyles. Younger households are more likely to migrate to developments and cities from their heavily populated neighborhoods that not only deliver improved building quality but also critical social infrastructure.
In addition to residential neighborhoods, the timely completion of these social components is likely to ensure higher occupancy rates relative to stand-alone residential projects that only draw investments that protect against inflation.
Ensuring a healthy residential mix with business elements that foster economic growth would provide several revenue sources for developers, persify risk, and raise price premiums.
With a growing trend in the hospitality sector and a new wave of high-tech facilities and construction materials available, developers have the means and market conditions required to build better, faster, and to optimize the experience of each guest.
The EJB official pointed out: "The introduction of dual-brand and triple-brand hotels in the industry is one of the newer trends in hotel growth. Micro-hotel units, where rooms are very small and effective, and amenities are roomy and accommodating, are another new trend making its way to the market.
"We are seeing the guest experience grow in new and exciting ways with many new, independent hotel brands breaking into the market."
To be successful in a fast-moving industry like hospitality means never standing still. Today’s guest demands are tomorrow’s history; so the smart companies are the ones that constantly peer over the horizon.
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