Real Estate Marketing & Management (REMM):
The Real Estate sector in Egypt suffers from serious market imperfections. The continuing rigidity in this sector, leading to the discrepancy between supply and demand might be attributed, in part, to the almost total lack of professional real estate agencies. Owners of vacant properties have, in most cases, to try and sell and/or rent their properties directly, or to seek help from unqualified middlemen. Similarly, potential buyers and/or tenants have to rely on similar routes to fulfill their requirements.
Given RICTAR’s focus on Investments, primarily short and medium term, it aims at a later stage to add a new business sector to their portfolio, by establishing a Real Estate Agency. This will be involved in acting as an intermediary between buyers and sellers of residential real estate, and between landlord and tenants. In addition, it can offer real estate management services, particularly to foreign owners of properties in Egypt, who seek the assistance of a professional organization with the ability ensure the maintenance and management of their properties during their absence.