Consultant Engineer Bahgat Sabry praises the importance of applying regulations to control the real estate market
Consultant Engineer Bahgat Sabry, Chairman of Constructa Developments, confirmed the importance of the Government’s latest regulations applied to the real estate market, which will achieve credibility that benefit all parties whether the client or developer. He added that these regulations will filter the market, leaving only the companies with experience in the field and technical knowledge and eliminating others.
He added during his speech in “Real Estate Sector Challenges and Solutions 2022” conference, that these regulations support the strength of the real estate market and maintain the existence of a disciplined system with specific rules that apply to all companies, regardless the project’s size that they are developing, which contributes to achieve discipline and stability in the real estate market.
That was during his speech in “The Real Estate Sector Challenges and Solutions 2022” Conference, that was organized by New Cairo and the New Administrative Capital Developers to discuss the challenges facing the real estate market and the suggested solutions for them, in the presence of a number of prominent figures in the field of real estate development, most notably Eng.Tarek Shoukry, Undersecretary of the Housing Committee in the Parliament and Chairman of the Real Estate Development Chamber of the Federation of Industries, Eng.Mohammad Al-Bustany, Chairman of Manasat real estate Development Company, and Eng. Fathallah Fawzy, Chairman of the Construction Committee of the Businessmen Association.
He also called during the conference to provide banking facilities to real estate developers, especially with the importance of this sector and its impact on the Egyptian economy, as it contributes with a large percentage in the economy.
He stressed on the importance of real estate companies to shift towards value engineering during the current period in order to reduce the high cost of implementation by offering alternative solutions that reduce costs while maintaining quality.
It is worth noting that Constructa’s has always focused on moving forward with construction works in “The Walk Mall” New Capital out of its strong belief that construction is key in reating credibility for the company by the client.
