Engineer Fathallah Fawzy, Vice Chairman of the Egyptian Businessmen’s Association, has revealed an upcoming meeting with the Minister of Housing, Engineer Sherif El-Sherbiny, after April 15 to present a proposal for the establishment of Egypt’s first online platform for property registration. The proposal is being developed in collaboration with a specialized technology company, and a meeting with the minister will be scheduled once the proposal is finalized. Engineer Hisham Shoukry, Chairman of the Real Estate Export Council, will also participate in the meeting.
The platform aims to register real estate transactions in new cities to better understand market trends and pricing. The success of this project depends on its integration with the Ministry of Housing.
Engineer Sherif El-Sherbiny, Minister of Housing and Utilities, emphasized that the establishment of a database platform for property units will help attract foreign investments and boost buyer confidence by providing an official authority that issues licenses and delivers accurate real estate information. This statement came during his meeting with members of the Real Estate Development and Contracting Committee of the Egyptian Businessmen’s Association, where the platform proposal was presented by Engineer Fathallah Fawzy and received a positive response from the minister.
El-Sherbiny stressed the importance of working on a unified property identification system, noting that the centralized platform proposed by the Real Estate Development Committee is a significant step forward. He also announced the establishment of two investment funds in collaboration with Saudi Arabia and the UAE in response to the high demand from investors in Egypt. He explained that attractive investment opportunities with flexible conditions will be introduced to attract investors.
Furthermore, the minister highlighted the government’s focus on localizing industries, with the ministerial group for industrial development meeting weekly to discuss related issues. Significant progress has been made in localizing construction material industries, such as pumps and electrical panels, which will contribute to reducing imports. Authorities have also been instructed to rely more on local products and minimize imports.
