Egypt’s Minister of Housing, Utilities, and Urban Communities, Engineer Sherif El-Sherbiny, emphasized Egypt’s commitment to creating a competitive, diversified property market designed for global export, along with new incentives such as residency or citizenship in exchange for property investments. Speaking at the World Urban Forum, El-Sherbiny outlined the ministry’s ambitious goals to export Egyptian real estate by capitalizing on the country’s unique geographical assets, including its coastlines on the Red and Mediterranean Seas and the Nile River.
The government has also been working on establishing investment funds that include a portfolio of real estate, making land and residential units available for Egyptians abroad through the “Beit Al-Watan” project. This initiative provides opportunities for expatriates to invest in Egyptian real estate, contributing to foreign currency inflow.
El-Sherbiny noted that the Ministry of Housing, through the New Urban Communities Authority, has launched a range of mechanisms to facilitate diverse investment opportunities in Egypt’s new urban developments, particularly the fourth-generation cities. These efforts include a dedicated Direct Foreign Investment Portal to promote investment opportunities and attract international investors.
Highlighting Egypt’s progress in urban expansion, El-Sherbiny described the development of fourth-generation “smart cities” as part of Egypt’s national strategic urban plan. This initiative aims to double Egypt’s habitable area from 7% to 14%, with a target of reaching 17% by 2030. The country’s commitment to creating sustainable and competitive urban spaces positions it as a promising player in the global real estate market.
