Minister of Housing, Utilities, and Urban Communities, Eng. Sherif El-Sherbini, met this morning with Yukio Kanazawa, a legendary figure in the Japanese real estate sector and owner of Titan Capital, along with Nishida Kishiro, the company’s Chairman, to discuss avenues for collaboration in real estate development and the localization of modern technologies in Egypt. The meeting also aimed to showcase investment opportunities available for Japanese companies and investors in Egypt. The meeting was attended by Dr. Abdel Khalek Ibrahim, Assistant Minister of Housing for Technical Affairs, and Eng. Amr Khattab, General Manager in the Minister’s Technical Office.
El-Sherbini welcomed Kanazawa and Kishiro, emphasizing the deep and strong ties between Egypt and Japan. He reiterated the Egyptian government’s commitment, represented by the Ministry of Housing, to enhance cooperation with Japanese companies and investors in various sectors of the ministry’s work, offering all necessary support to achieve mutual benefits.
The Minister highlighted that Egypt has experienced significant urban development over the past decade under President Abdel Fattah El-Sisi, particularly in the development of fourth-generation cities, which are smart, green, and sustainable, providing excellent opportunities for real estate investment in various forms, as well as investment opportunities in other sectors alongside previous generations of new cities.
El-Sherbini noted the many investment opportunities available in New Administrative Capital, New Alamein City, New Mansoura City, and other fourth-generation cities. These opportunities encompass integrated urban projects, service projects, and industrial projects that can be implemented in the industrial zones of these cities.
“We have considerable flexibility and openness to all forms of cooperation with the private sector,” stated El-Sherbini, assuring that they are ready to provide support and recommendations for the best investment opportunities available according to the actual needs of the Egyptian real estate market. He confirmed that the ministry is currently targeting a range of partnership projects with foreign companies, including the Ras El Hikma project.
The Minister emphasized that the strategic plan for urban development in Egypt, prepared by the Ministry of Housing in collaboration with relevant authorities, has identified numerous development areas that offer substantial investment opportunities, particularly in the North West Coast region, which has become a global tourist destination. Last summer, it attracted tourists from over 100 nationalities, creating significant opportunities for establishing hotels and accommodations to accommodate the growing influx of tourists from around the world.
El-Sherbini reaffirmed the Egyptian government’s intention to attract investments across various industrial activities, aiming to localize many industries domestically. He explained that the Ministry of Housing is striving to establish industries related to drinking water, sewage, seawater desalination projects, and the electrical supplies needed for these projects. There is a significant opportunity for Titan Capital to partner in this field.
The Minister invited Yukio Kanazawa to participate in the World Urban Forum, which Egypt will host from November 4 to 8, with extensive international participation from around 175 countries, including both governmental delegations and the private sector. He pointed out that the presence of Titan Capital would provide a valuable opportunity to explore Arab and African markets and sign multiple cooperation agreements between the two parties.
El-Sherbini tasked Dr. Abdel Khalek Ibrahim and Eng. Amr Khattab to hold coordination meetings with Kanazawa and Kishiro to present the various available opportunities, turning cooperation into tangible outcomes, and organizing field visits to the new cities to observe the investment opportunities firsthand.
In response, Yukio Kanazawa congratulated El-Sherbini on his new role as Housing Minister, expressing his love for Egypt and the Egyptian people. He affirmed his intention to transfer a significant portion of his investments, estimated at $8 billion, to Egypt, seeing the country as a promising investment market and a gateway to the Arab and African markets due to its strategic location and leading role in the Middle East.
Kanazawa indicated that his investor partners are keen on forming an investment alliance using Egypt as a base for entering the Arab and African markets, inviting friends and investors from America and Europe to invest in Egypt’s promising market, which boasts numerous significant investment opportunities across various sectors.
He emphasized his desire to enhance and deepen cooperation with the Egyptian government and to execute numerous investment projects that serve mutual interests. Kanazawa also mentioned his current partnership project with the Ministry of Military Production to produce water generation devices from atmospheric water vapor, with production set to commence soon to meet the needs of the Egyptian market and export abroad.
