Eng. Sherif El-Sharbiny, Minister of Housing, Utilities, and New Urban Communities, participated in the first discussion session titled “Prospects of Real Estate Development and Tourism Growth” during the Egyptian-Gulf Trade and Investment Forum. The event is being held in Cairo on November 10–11 under the theme “A Roadmap to Strengthening Egyptian-Gulf Economic Cooperation.”
The forum is jointly organized by the Egyptian Ministry of Foreign Affairs and the General Secretariat of the Gulf Cooperation Council (GCC), in cooperation with the Ministry of Investment and Foreign Trade, the Federation of Egyptian Chambers of Commerce, the Federation of GCC Chambers, and the General Authority for Investment and Free Zones.
During the session, the Minister announced a new initiative to establish an investment fund that will include a selected portfolio of lands and residential units with special investment advantages, to be presented to Gulf investors. He emphasized the importance of encouraging GCC officials to support the establishment and prompt launch of the fund, with the goal of strengthening joint investment partnerships.
El-Sharbiny highlighted the unprecedented urban development boom Egypt has witnessed in recent years, including the implementation of major national projects such as sustainable smart new cities and the redevelopment of unplanned areas. He also noted presidential initiatives such as Decent Life and Housing for All Egyptians, pointing out that the primary objective is to improve citizens’ quality of life and open new opportunities for investment.
Regarding tourism development, the Minister affirmed that it represents one of the core pillars of Egypt’s Vision 2030. The state is working on developing strategic tourism destinations such as the Northwestern Coast and the Red Sea region. He praised large-scale projects such as New Alamein, Ras El Hekma, and Alam El Roum, emphasizing that these developments reflect international investor confidence in the Egyptian economy and Egypt’s status as a regional hub for urban and tourism development.
He also discussed the National Strategy for Smart Cities and Sustainable Green Urban Development, which aims to enforce smart and green building standards across all government and private real estate projects by June 30, 2026. The strategy includes clear guidelines and incentives to encourage developers to adopt green construction practices.
El-Sharbiny concluded by reaffirming Egypt’s openness to foreign investments, expressing appreciation for Gulf investment flows, and stressing the full support provided by the Egyptian government to serious investors across sectors—especially in hotel and tourism activities, which play a key role in enhancing the country’s regional and global competitiveness.
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