Interview – Exploring JLL’s Multifaceted Approach to Maximize the Opportunities Presented by the Real Estate Market in Egypt

There is no doubt that real estate is considered one of the premier investment choices in Egypt during the current economic variables. CMOs magazine had an exclusive interview with Ayman Sami, Country Head, JLL Egypt, and Anood Haddad, Head of Marketing & Public Relations – MEA & Turkey, to share their insights into the current opportunities and challenges in the real estate market in the MENA region, most notably in Egypt.

Let’s delve into the interview…

CMOs: Talking about the marketing opportunities in the region, does the real estate market currently face challenges related to current economic variables?

Ayman Sami: The economic impact on the real estate sector is twofold; one, it is helping the industry emerge as an accelerator for buyers seeking to hedge against inflation and devaluation; and two, it is creating some uncertainties relating to managing costs, causing delays in decision-making for some players. However, despite these challenges, real estate remains one of the premier investment choices in the country during this time of uncertainty, offering marketers ample avenues to go beyond brand building and product positioning to create a positive perception of the sector as a beacon of stability and opportunity, further bolstering confidence not only among the community of local but also international investors.

CMOs: How do you plan to take advantage of the opportunities of the real estate market in Egypt at the level of the commercial, residential, and administrative sectors?

Ayman Sami: To maximise the opportunities presented by the real estate market in Egypt across commercial, residential, and administrative sectors, a multifaceted approach is essential. When it comes to the commercial sector, the Grade A office segment of the market has been holding up quite well on the back of limited supply and high demand. The landlords retaining their quoted rents in USD has proven advantageous amidst macroeconomic fluctuations. Similarly, the residential sector’s resilience, which has always been fuelled by off-plan sales driven by the desire to safeguard savings amid currency devaluations, continues to be prominent. Retail is still sensitive to the economic situation; recent events have had an impact on the purchasing power of customers as well as brands due to cost fluctuations. Nonetheless, this adversity has birthed new prospects for local brands to thrive embedded into their tactic of offering quality products at more affordable prices.

To summarise, the key lies in understanding sector-specific dynamics and willingness to adapt to shifting trends. By capitalising on the resilience of Grade A offices and the enduring appeal of residential investments, while also fostering the growth of local brands in the retail sector, stakeholders can strategically seize emerging opportunities and drive sustained growth in Egypt’s ever-changing market environment.

CMOs: Described as the safe haven for investment, does that mean that the real estate product is an easy product to sell or to promote, or is it kind of the opposite due to the increasing rise in unit prices and the decline in purchasing power?

Ayman Sami: The perception of real estate as a safe haven for investment does bring in some level of ease in selling or promoting the product. Even during the most challenging economic times buyers always prefer to invest their money in real estate given the high appreciation levels and the ability to protect their savings. Although it does sometimes become challenging to sell in the medium term, in the longer term as incomes gradually catch up with inflation and market activity rebounds, these challenges tend to diminish. Despite the constraints imposed by dwindling purchasing power, the prospect of further price increases due to currency devaluation often serves as a motivator for buyers, underscoring the sustained appeal of real estate as an investment vehicle.

To discuss marketing opportunities, strategy, and plans of 2024, CMOs magazine also sat with Anood Haddad, Head of Marketing & Public Relations – MEA & Turkey, JLL.

CMOs: Would you tell us more about your role as Head of Marketing & Public Relations – MEA & Turkey at JLL?

Anood Haddad: As the leader of a very capable and passionate team of marketers, my primary focus has always been on driving our business toward its objectives by crafting strategic plans that align seamlessly with our company’s vision and goals. Within JLL, marketing plays a crucial role in promoting our brand, showcasing our array of services, and highlighting the expertise of our talented team. Our overarching aim is to fuel business growth through the implementation of a broad spectrum of activities, including brand management, internal and external communication efforts, digital and social media marketing, campaign management, content creation, events, and other activations that support lead generation. Collaborating closely with our regional and global counterparts, we tap into the immense power of our global brand and access world-class resources to amplify our impact and reach.

CMOs: Regarding marketing strategy, what has Anood Haddad brought to JLL MENA after taking over the company as the Head of Marketing and Public Relations, MEA, and Turkey?

Anood Haddad: As the business continued to grow over the years, the scope of Marketing has also expanded multifold. As a team, we have made it a priority to forge strong partnerships with the management and different business units within our organisation, enabling us to effectively support their goals and propel their growth trajectory. This collaborative approach has fostered a strategic alignment between marketing and the various business lines, characterised by open communication channels ensuring that marketing initiatives are closely aligned with the expectations and objectives of each business unit. Furthermore, our big focus today is leveraging digital strategies and amplification techniques to enhance awareness and drive measurable results, reflecting our commitment to staying at the forefront of modern marketing practices.

CMOs: Finally, what are JLL Middle East and Africa’s marketing plans for 2024?

Anood Haddad: At JLL, our marketing strategy aligns with the company’s long-term vision of creating more opportunities for our people, our planet, and our communities. In 2024, we will continue to focus on our digital transformation goals and the increasing use of digital channels to support lead generation, drive personalisation and enhance customer experience through data-driven activities, client engagement, and relationship building through our targeted industry events and roundtables, as well as building thought leadership and content marketing. Furthermore, sustainability remains a key focus area for us given that we command a leading position in that space regionally and globally.