Minister of Housing, Utilities, and Urban Communities, Engineer Sherif El-Sherbiny, held a meeting with the Chairman of the Real Estate Development Chamber, Engineer Tarek Shoukry, along with other board members, to discuss ways to further support the real estate development sector. El-Sherbiny reaffirmed the ministry’s full support for all stakeholders in the sector, emphasizing the importance of public-private partnerships and the provision of new investment opportunities.
During the meeting, developers presented a set of demands, including the continuation of previously introduced incentives such as extending project implementation timelines, reducing interest rates, and simplifying the licensing process.
Minister El-Sherbiny announced that these incentives would continue, including a 6-month extension for project completion deadlines and a reduction in interest rates. The Chairman and members of the Real Estate Development Chamber expressed their gratitude to Minister El-Sherbiny for his ongoing support and responsiveness to the sector’s needs. El-Sherbiny also reiterated the ministry’s readiness to enhance cooperation with developers and highlighted the availability of flexible and encouraging measures to support real estate investment.