Mr. Ishak Anwar, Chairman of Prime Developments and Founder of the Geel Moathir Initiative, stated that the cancellation of Cityscape 2026 should not, by itself, be considered evidence of a severe crisis in Egypt’s real estate market. According to Anwar, understanding the current market requires looking beyond individual events and considering the broader economic and structural developments that have shaped the sector over recent years. Anwar explained that some of the market’s major challenges became more apparent during 2023 and 2024, amid economic changes and currency devaluations. During this period, certain participants entered the real estate market primarily seeking quick returns through land trading or short-term property resales. He emphasized the importance of distinguishing between land traders and genuine real estate developers. A true developer, he noted, does not simply acquire and resell land, but develops a clear vision for the project, plans its execution, begins construction, and remains committed to customers throughout the development process until the project becomes a tangible reality. Anwar also highlighted the importance of the genuine buyer, who views real estate as a valuable long-term asset rather than simply an opportunity for short-term speculation. In his view, the relationship between a genuine developer and a genuine customer is ultimately built on trust, commitment, and sustainable value. He added that the Egyptian real estate market is currently going through a natural process of market filtering and restructuring. As a result, committed developers are becoming more distinguishable, while customers are becoming increasingly aware of the factors that should guide their purchasing decisions, including construction progress, quality, delivery commitments, and credibility. In this context, Anwar stressed the importance of continued market oversight and regulation, noting that efforts to improve the performance of real estate companies and strengthen market discipline are essential to maintaining the sector’s role as one of the key drivers of Egypt’s economic development. Concluding his remarks, Anwar emphasized that integrity, hard work, and commitment remain fundamental principles for long-term success in real estate. Developers who remain committed from land acquisition through construction and delivery, while honoring their commitments to customers, will be better positioned to navigate challenging market conditions and emerge stronger. Anwar concluded by emphasizing that projects built on integrity, dedication, and genuine effort ultimately create lasting value, expressing his gratitude for the continued progress and success he has witnessed and reaffirming the importance of building sustainable value within Egypt’s real estate market.