International real estate advisor Savills has appointed Catesby Langer-Paget as the new head of Egypt to lead its launch in the fast growing market.

The agency is expanding its regional presence into Egypt at a time where an influx of industry reports is emerging to highlight the great growth potential of the Egyptian real estate market.

As part of an ambitious expansion plan within the Middle East and North Africa (Mena) region, Savills, the globally renowned player within the real estate sector arrives in Egypt shortly after its acquisition of Cluttons Middle East.

The agency aims to grow its regional capabilities to play a key role in Egypt through catering to different stakeholders within the real estate market and supporting the property project lifecycle with a robust service offering.

Savills Middle East CEO Steven Morgan said: "We have a great determination to be at the forefront of the resurgence of the Egyptian real estate market. Launching our presence in Egypt represents a key part of our regional development strategy."

"We aim to leverage our wide range of experience that we believe will be of significant value for all the different stakeholders within the sector. With a historic, accountable track record across the region and a great deal of experience accumulated across different countries, we believe Catesby Langer-Paget is the ideal man to lead the growth of our business in Egypt," he stated.
 
In his previous role at Cluttons, Langer-Paget was already in charge of several major clients in Egypt, including the Government of Canada, global pharmaceutical company Novartis, 3M, Omani Sovereign Wealth Fund and Citi Bank.

At Savills Egypt, he will look to bring over the wide range of capabilities and services that the company offers globally to establish the agency’s presence as a key player in the Egyptian real estate market.

On his appointment, Langer-Paget said: "The Egyptian market is showing very promising signs of expansion and is set to regain its position among the leading real estate markets within the region."

"The growth witnessed by the residential and commercial real estate market is driven by multiple factors, including the government’s ambitious plans to address the increasing population needs as well as its support for entrepreneurial initiatives as a key economic driver," he stated.

“We’re looking forward to an exciting year in 2019, starting with the launch of One Zamalek, a Savills managed building on the northern tip of Zamalek, featuring 21 exclusive apartments available for sale and they are already attracting a lot of interest. The commercial real estate market will also be a key focus for us with several major announcements expected next year,” he added.-TradeArabia News Service