Hussein Abd Rabbo writes: Badawi’s ideas for regulating the real estate market

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    We are preparing this real estate issue for the Cityscape exhibition, which is the first real estate event after the death of our dear colleague Badawi Shalaby. His habit was ready with ideas; Because he interacted with the real estate market, its developers and all those working in it.. He had an integrated vision of the real estate market and all its determinants and problems.. Rather, he had proposals for organizing and developing work in the real estate market, which he put forward in his dialogues and discussions with officials of companies in the sector, and through seminars that he organized. The Stock Exchange”, which was a great demand for dialogue from workers in the real estate sector.

    In this special issue, we wanted Badawi not to miss participating in this important real estate event. We present some of his ideas for regulating the real estate market through the “Post” on his personal page on Facebook, which was a real estate press forum followed by many.

    Badawy says:The real estate market in Egypt is completely different from any other market in everything, the product, the movement of supply and demand, and the nature of competition, whether between real estate development companies and real estate marketing companies. .

    First, you are not allowed to compare real estate in Egypt with any other country, no matter what there are common characteristics, and this is strange to us two or three things, meaning any real estate market in the world, in which it deals with real estate, will be in accordance with controls and procedures that preserve the rights of the client, developer, marketer and the state; Because it is a system and the models are very many, whether in the surrounding countries or Europe or even the countries of Asia in which real estate is a real wealth, not just slogans, beautiful words, salvation and projects that will be on the map or fulfill a need and in implementation another need at all, even the deliveries… The situation in Egypt is completely different and this needs A job is not just a stack of words or statements from the developer or the marketer.

    – There are general rules that everyone demands in order to organize this large market, but the slowness of procedures and implementation loses workers in this sector hope and everyone is working hard.. The companies, including those who want to implement a new strategy and work on themselves, to know how to enter the competition, and other companies entered the market in “heedless” and will graduate in A “zaffa”… Away from countries and countries where companies have succeeded and succeeded in creating a shape for the real estate market and countries whose number is not large… The temptation to sell, diversify and attract new customers and not be satisfied with the traditional customer remains the main concern of the real estate developer and this is the real role of real estate marketing companies that work professionally and this appeared well in projects The capital means, “There are many new customers from the governorates, but will the companies complete?” This is a new challenge and needs a developer, not a contractor or a company with “two piasters” and bought land with them and said it was a developer.

    – The state is required to determine the form and type of competition between real estate companies and the regulation of the sector, meaning the increase in the number of real estate investment companies is a healthy phenomenon and a reflection that real estate in Egypt is an important investment that can increase its contribution to the state’s gross domestic product, but how? The rules are simple and the task of regulating the market through a union of developers under the supervision of the state and the existence of a law that seriously protects this industry and the classification of companies. “This word is mashed 1000 times.” The sector is booming, even if these companies “exit or falter”, including 200 companies, and if we add this to the existing companies, we are like this a very large market, which is met with boom in other sectors related to this industry, and this all needs regulation.

    According to Badawi, The second important rule is to organize propositions, and this is also to “mash up a million times.” The state’s competition with the private sector is an advantage and a fault at the same time. The state protects the citizen from the greed of some companies, especially the middle classes. It is not just about subtraction and flooding the market, and therefore a large part of the real estate companies working on this segment are affected a lot, and therefore the rest of the system will have this effect.

    In contrast to the two rules, there are also important rules, including the ones that I utter, and the new ones, due to the change in the market situation in the time of “Corona” we will say in a later post.

    Real estate marketing companies, and this needs a detailed post alone because there is a lot of talk that needs to be said because in my estimation it is no less important than the real estate developer or the rest of the related industries, and we will talk about it in detail in later posts.

    – In summary, the real estate market in Egypt is stronger and larger than any market in the region, and for many reasons, but it lacks more needs, and this is what makes the market more like a “souqa,” although if it is organized, it will surpass regional and international markets. Crises The demand is growing and the companies don’t want to “betrayed deban” because no company will prefer to work and it will lose, and there are no real estate marketing companies that will increase and the market has no sale and the rest of the talk. #sorry_for the length

    The article Hussein Abd Rabbo writes: Badawi’s ideas for regulating the real estate market were written in Al Borsa newspaper.