Engineer Sherif El-Sherbiny, Minister of Housing, stated that this year’s theme, “The Future of Real Estate: Challenges and Development,” accurately reflects the nature of the current phase that Egypt’s real estate sector is going through. The sector is striving to achieve economic progress, social justice, and environmental sustainability.
During the Akhbar El Yom Real Estate Conference, the minister emphasized that global and regional changes — along with the resulting economic and geopolitical fluctuations — have imposed a new reality. This reality, he said, necessitates a rethinking of how we manage this vital sector.
He pointed out that the challenges facing the real estate sector are not solely domestic but are part of a broader, rapid global transformation that impacts all markets and economies.
He continued, saying:
“In recent years, the world has witnessed sharp fluctuations in the prices of raw materials, a significant rise in construction costs, and fundamental shifts in real estate market behavior. This includes increased demand for new forms of smart and sustainable residential communities.”