Dr. Abdel Khalek Ibrahim, Assistant Minister of Housing for Technical Affairs, stated that the New Urban Communities Authority is studying the possibility of offering incentives to developers to promote a shift towards green urbanization shortly.
This announcement was made during the opening session of the second edition of “The Investor.. Real Estate” conference, organized by Black Diamond, a leading company in organizing conferences and exhibitions. The event took place last Tuesday at the Nile Ritz-Carlton Hotel in downtown Cairo under the theme “Real Estate… Challenges, Initiatives, and Financing Solutions.”
He pointed out that partnerships represent a key tool for achieving success, whether between the government and the private sector or among private companies themselves. He also noted that the real estate market possesses many elements that can be relied upon to confront challenges, the most prominent of which is the vast wealth of real estate resulting from the accumulation of public and private sector projects.
He stressed the importance of identifying and evaluating the nation’s real estate wealth through the registration of properties within a defined system to facilitate their marketing. He also highlighted that partnerships between the government and the private sector have become a fundamental mechanism for addressing economic challenges. Additionally, he emphasized that the real estate sector is a key driver of growth for the Egyptian economy and that the state supports it by offering various incentives. He affirmed that the upcoming period will witness an expansion in partnership projects with the private sector.