Minister of Housing Discusses Enhancing Financial Resources and Investment Opportunities

This morning, Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, held an extensive meeting with Dr. Hassan El-Shourbagy, Vice President of the New Urban Communities Authority (NUCA) for the Real Estate and Commercial Affairs Sector, along with sector officials. The purpose of the meeting was to follow up on the sector’s progress and discuss plans for offering residential units and investment opportunities in the coming period.

El-Sherbiny Emphasizes Enhancing Financial Resources and Streamlining Procedures

The minister directed the NUCA to focus on maximizing financial resources through innovative “out-of-the-box” ideas and emphasized the importance of governance, procedures, and incentives to expedite the collection of outstanding dues. He also stressed the need for each city’s financial planning to shape the development project’s execution strategy.

Detailed Plan for Investment Until 2030

During the meeting, the minister discussed the plan to offer residential, commercial, and administrative units, as well as land plots of various types, shops, and other investment opportunities across different new cities. He also called for a comprehensive financial plan that spans until 2030, setting monthly targets for the next two years.

Survey of Available Units and Expanding Digital Platforms

El-Sherbiny instructed the NUCA to form committees to survey all available residential, commercial, and administrative units, as well as land plots and shops, across new cities. This will enable a clear plan for future offerings. He also urged expanding direct housing availability through city authorities and increasing the use of electronic platforms to provide services, aligning with the country’s digital transformation agenda.

Conclusion of the Meeting

The minister concluded the meeting by emphasizing teamwork and supporting sector employees to achieve the highest possible returns. Dr. Hassan El-Shourbagy also presented the sector’s recent activities, including marketing strategies for available units and resolving challenges faced by investors and developers.