Engineer Sherif El-Sherbiny, Egypt’s Minister of Housing, announced that Egypt is now offering a competitive and diverse real estate market, unprecedented in its variety and appeal, for global export. Speaking at the World Urban Forum, El-Sherbiny highlighted the country’s newly introduced incentives, including residency and citizenship options tied to property investments, aimed at drawing international interest.
El-Sherbiny stated that Egypt’s Ministry of Housing is committed to expanding its real estate offerings worldwide by leveraging the country’s unique natural assets, such as its Red Sea and Mediterranean coastlines and the Nile River. He emphasized the ministry’s recent initiative to create investment funds that manage land portfolios, which complement the “Beit Al-Watan” (Homeland House) project, designed to provide Egyptian expatriates with attractive property options, including land and housing units.
Additionally, El-Sherbiny noted that the New Urban Communities Authority (NUCA) is actively promoting diverse investment opportunities in new cities, particularly fourth-generation cities, through mechanisms like the Foreign Direct Investment Portal. This platform aims to attract international investments by offering a wide range of opportunities.
Highlighting Egypt’s urban expansion strategy, El-Sherbiny pointed to the development of fourth-generation cities as part of Egypt’s National Strategic Urban Development Plan. This plan, aimed at doubling Egypt’s inhabited land area, has already seen the habitable space increase from 7% to 14%, with a target of reaching 17% by 2030. These efforts demonstrate Egypt’s dedication to both sustainable growth and the establishment of globally competitive real estate offerings.