Engineer Sherif El-Sherbiny, Egypt’s Minister of Housing, Utilities, and Urban Communities, met with Dr. Majid Al-Hogail, Saudi Arabia’s Minister of Municipal, Rural Affairs, and Housing, to discuss ways to strengthen bilateral cooperation in urban development. The meeting took place on the sidelines of the Cityscape Expo in Riyadh.
The two ministers discussed activating the role of the Egyptian-Saudi Real Estate Council, aiming to organize an annual forum showcasing investment opportunities for investors from both countries. This initiative would create a platform for potential collaboration and investment growth in real estate.
They also explored the concept of establishing a joint real estate investment fund. To advance this idea, both ministers recommended forming a joint working group to examine the feasibility and outline the best approaches for fostering partnership opportunities between the two countries in the real estate sector.
Minister El-Sherbiny emphasized Egypt’s commitment to creating an investor-friendly environment by resolving challenges and removing obstacles faced by Saudi investors in the Egyptian market. He highlighted that the Egyptian government and the Ministry of Housing are making substantial efforts to facilitate investments, offering support to overcome any challenges that may arise.