Cairo, December 24, 2024 – Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, held a meeting today with officials from the Saudi-Egyptian Construction Company (SECON) to review the company’s marketing performance for various projects by the New Urban Communities Authority (NUCA). This meeting is part of the minister’s regular sessions with real estate marketing and development companies to ensure the execution of NUCA’s marketing plans.
Key Projects Discussed
During the meeting, SECON provided updates on the marketing of major projects, including:
- Sawary (West Carrefour), Alexandria
- New Alamein City
- Marina
- Al-Fustat
The discussion also covered sales figures achieved by the company and the challenges encountered during marketing efforts.
Addressing Challenges
Minister El-Sherbiny urged SECON to prepare a detailed proposal for overcoming the identified challenges and submit it to the ministry for review. He also directed ministry officials to create a delivery schedule for project units and establish a joint monitoring mechanism with SECON to ensure timely completion and handover.
Emphasis on Strategic Goals
SECON presented a detailed report on its current plans for marketing residential, commercial, administrative, and recreational projects developed in collaboration with NUCA. The minister emphasized the importance of:
- Adhering to timelines for marketing plans.
- Regularly monitoring and evaluating progress to achieve targeted outcomes.
- Maximizing the utilization of NUCA’s inventory of units to enhance financial returns.
Long-Term Objectives
Minister El-Sherbiny highlighted the ministry’s commitment to leveraging investments in residential and developmental projects across new cities. The goals include:
- Increasing occupancy rates in new urban areas.
- Generating financial returns to sustain housing and development initiatives.
- Meeting the diverse housing needs of Egyptian society.
This meeting underscores the government’s strategic focus on boosting urban development, optimizing resource utilization, and expanding residential and economic opportunities in Egypt’s new cities.