Dr. Mostafa Madbouly, prime minister, witnessed today, at the government headquarters in New Alamein City, the signing ceremony of a cooperation protocol between the Ministry of Housing, Utilities, and Urban Communities, represented by the New Urban Communities Authority (NUCA), and the Future of Egypt Authority for Sustainable Development.
The ceremony was attended by Eng. Randa El-Menshawy, minister of housing, utilities, and urban communities; Dr. Bahaa El-Ghannam, executive director of the Future of Egypt Authority for Sustainable Development; and Dr. Walid Abbas, deputy minister of housing, utilities, and urban communities for urban communities.
The protocol comes within the framework of the state’s efforts to maximize the utilization of assets, promote sustainable urban development, support investment attraction efforts, and achieve the best economic returns from available resources.
The cooperation protocol was signed by Dr. Ahmed Emara, Supervisor of the Real Estate and Commercial Affairs Sector at the New Urban Communities Authority, and Major General Khaled Salah, representing the Future of Egypt Authority for Sustainable Development.
The protocol aims to strengthen joint cooperation in utilizing and developing lands owned by both parties and implementing development and investment projects that ensure the optimal use of assets, contributing to the state’s efforts to increase investment rates and achieve sustainable development.
The signing of the protocol comes within the framework of ongoing coordination between the Ministry of Housing, Utilities, and Urban Communities, represented by the New Urban Communities Authority, and the Future of Egypt Authority for Sustainable Development.
This reflects the state’s approach to unifying efforts among its institutions to implement strategic projects based on scientific planning and the optimal utilization of land, contributing to the creation of integrated urban communities, supporting the national economy, and aligning with the objectives of Egypt’s Vision 2030.
It was noted that, under the protocol, the two parties will cooperate in preparing the necessary technical and economic studies for the targeted projects to ensure the highest investment feasibility.
They will also coordinate on the offering, marketing, and promotion of joint projects, while working to attract local and international investments, thereby maximizing the economic returns from the lands and projects covered by the cooperation and ensuring the optimal utilization of the assets owned by both parties.
The protocol also includes the formation of joint technical and financial committees comprising representatives from both sides. These committees will oversee project implementation, ensure continuous coordination between work teams, and work to resolve any obstacles that may arise during the implementation stages, ensuring rapid completion and the achievement of targets according to the specified timelines.
The protocol represents a model of institutional integration between the New Urban Communities Authority and the Future of Egypt Authority for Sustainable Development by combining the capabilities and technical and executive expertise of both parties.
This will contribute to developing urban and investment projects with added value, maximizing the utilization of assets, improving their efficiency, supporting the state’s efforts to attract investments, achieving sustainable urban development, and creating new job opportunities that enhance economic growth and social stability.
Following the signing, Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, affirmed that the cooperation protocol with the Future of Egypt Authority for Sustainable Development reflects the state’s commitment to maximizing the economic value of its assets by strengthening cooperation among its national institutions and adopting more efficient and flexible working mechanisms.
This supports the implementation of development projects, creates new investment opportunities, increases growth rates, and contributes to achieving the objectives of Egypt’s Sustainable Development Vision. She added that the Ministry of Housing continues to develop its real estate asset management system in accordance with best practices, ensuring the optimal use of land, maximizing economic returns, and strengthening investor confidence in the Egyptian real estate market.
She noted that the New Urban Communities Authority is pursuing an integrated vision aimed at diversifying investment and partnership mechanisms and offering attractive investment opportunities characterized by transparency and good governance. This contributes to increasing the real estate sector’s contribution to supporting the national economy and enhancing the competitiveness of the Egyptian real estate market at both the regional and international levels.
Dr. Bahaa El-Ghannam, Executive Director of the Future of Egypt Authority for Sustainable Development, affirmed that the current phase requires maximizing the economic value of state-owned assets by developing them through modern investment models that achieve the highest efficiency in utilization and provide genuine opportunities to attract domestic and foreign capital.
This supports the competitiveness of the Egyptian economy and enhances its ability to accommodate more high-quality investments. He added that the partnership with the New Urban Communities Authority represents a strategic step toward unifying the capabilities and expertise of state institutions.
This will accelerate project implementation, enhance their economic efficiency, establish urban communities that are more attractive to investment, strengthen the contribution of urban development to achieving the state’s economic objectives and creating jobs, and generate sustainable added value for assets.