Engineer Sherif El-Sherbiny, Minister of Housing and Utilities, participated in a panel discussion with a delegation from the Saudi Chambers of Commerce and the Saudi-Egyptian Business Council to strengthen cooperation and investment between Egypt and Saudi Arabia, especially in the real estate sector. The session was attended by several ministers and officials, including Dr. Khaled Abdel Ghaffar, General Kamel El-Wazir, and Hassan Abdallah, in addition to businesspeople and investors from both countries.
At the beginning of his speech, Engineer Sherif El-Sherbiny welcomed the Saudi delegation and the attendees, expressing his pleasure in taking part in the event and emphasizing the importance of the strong ties between Egypt and Saudi Arabia. The Minister reviewed Egypt’s urban development journey under President Abdel Fattah El-Sisi over the past ten years, highlighting investment opportunities in new cities such as the New Administrative Capital, New Alamein, and New Mansoura, as well as in tourist areas. He reaffirmed the ministry’s commitment to increasing investments with developers and investors, particularly those from Saudi Arabia.
The Minister of Housing emphasized his dedication to resolving any challenges faced by investors, referencing his recent visit to Riyadh during the Cityscape Global Exhibition. He expressed his appreciation for the spirit of collaboration among participants and investors. He also mentioned the ministry’s plans to establish a joint Egyptian-Saudi real estate fund, which would include land and investment opportunities under the supervision of the New Urban Communities Authority and the Tourism Development Authority, aimed at supporting joint projects in Egypt. He revealed the creation of a new department to follow up on Egyptian-Saudi projects to enhance their success and expansion in the future.
In conclusion, Engineer Sherif El-Sherbiny highlighted the significance of Egypt-Saudi Arabia cooperation in exchanging expertise in real estate development, which could contribute to achieving sustainable development. He was honored at the end of the session for his active role in supporting investors in the real estate sector.