Royal Development sponsors “Real Estate Sector Challenges and Solutions 2022” conference.

Sherif Shaalan: Real Estate development industry is developing itself continuously to face changes and challenges.

Royal Development company announced its participation in “Real Estate Sector Challenges and Solutions 2022” conference, which was organized by New Cairo Developers Association, in the presence of Chairmen of real estate development companies and real estate marketing experts.

Sherif Shaalan, Royal Development Chairman, said that this conference is the first one organized by New Cairo Developers Association, and Royal Development sponsored the conference due to its importance in discussing the current situation of real estate market.

He pointed that the conference witnessed the presence of a group of developers, most notably Eng.Tarek Shoukry, Undersecretary of the Housing Committee in the Parliament, who presented his vision to the market as well as the efforts of the Housing Committee in facing the challenges facing the real estate sector, besides the presence of Eng. Fathallah Fawzy, Head of the Construction Committee of Businessmen Association, and Engineer Mohamed Al Bostany, Head of New Cairo Developers Association.

He showed that real estate development industry is one of the strong industries that is linked to more than 100 affiliated industries, which makes the impact of global economic events effective toward
the affiliated industries, so it was necessary to count the most prominent challenges facing currently this industry, and exchange visions with companies operating in the sector during the conference.

He added that the conference witnessed a discussion and presentation of the challenges facing real estate market during the current period, as well as stating the solutions that can be applied to stand against these challenges and maintain the strength and continuation of real estate market with the same activity, and the conference also included a presentation of the challenges facing real estate marketing companies as an essential part of this great sector.

He assured in his speech during the conference, that the real estate development industry is continuously developing itself to face challenges, in addition to the companies’ flexibility to oppose these challenges, as well as the governmental efforts to support the sector, all of which are factors that maintain the sector’s work, referring to the importance of relying on value engineering as a key factor to confront implementation high costs.

He noted that value engineering focuses on mechanisms of reducing costs in construction by finding alternative materials that achieve the same purpose and in a manner that does not conflict with maintaining quality in implementation, which is one of the mechanisms to overcome the current high cost of implementation.

He explained that the conference witnessed a discussion about the relationship between real estate development and real estate marketing companies, as they are essential elements on which the real estate development industry is based, and they are partners in working in this market, and the conference also included an analysis of the “cash back” phenomenon and its negative impact on the market, and a discussion of irrational commissions for some real estate marketing companies.