Egypt’s Minister of Housing, Utilities, and Urban Communities, Engineer Sherif El-Sherbiny, announced that the ministry is nearing completion on studies for two real estate investment funds—one with Saudi investors and another with UAE investors. The initiative, aimed at meeting high investor demand from these countries, will focus on developing land and housing projects under the ministry’s oversight.
Speaking on Wednesday at the World Urban Forum’s session on investment funds for real estate exports, El-Sherbiny emphasized that attracting foreign investment funds is crucial for supporting Egypt’s real estate sector and boosting foreign currency revenues. He highlighted the success of the “Beit Al-Watan” project, which offers land and housing options for Egyptians living abroad, payable in U.S. dollars, as a part of this strategy.
El-Sherbiny also discussed Egypt’s urban expansion achievements, noting that the ministry has successfully doubled the country’s habitable land from 7% to 14%, with a goal to reach 17% by 2030. He added that Egypt has already developed 24 sustainable “smart cities,” with strategic plans underway for an additional 14 cities.
In a related discussion, Ahmed Kouchouk, Egypt’s Minister of Finance, underscored the private sector’s vital role in supporting national development and bridging financial gaps. He highlighted the importance of public-private partnerships, structured to distribute risks evenly between both sectors, and emphasized the ministry’s commitment to green bonds and sustainable financing mechanisms. With the rising costs of private sector funding, he said, it is essential to secure affordable financing through a blend of commercial and low-cost international sources. Kouchouk cited renewable energy projects and the World Bank’s development initiatives in Upper Egypt as successful partnership models.
This collaborative approach reflects Egypt’s commitment to fostering an attractive investment environment while advancing its ambitious urban and economic development goals.
