Minister of Housing Discusses Investment Challenges in New Cities with Association Leaders

Cairo – In a meeting held on Sunday evening, Shereef El Sherbiny, the Egyptian Minister of Housing, Utilities, and Urban Communities, engaged with the heads of investor associations in Egypt’s new cities to address the challenges faced by investors in service projects and existing industrial areas. The meeting was attended by several key officials, including Waleed Abbas, Deputy Head of the New Urban Communities Authority (NUCA) for Planning and Projects, and Ameen Ghonaim, Deputy Head of NUCA for Urban Development.

In a statement released today, the Minister emphasized the importance of strengthening the role of investor associations in the new cities, highlighting the need for effective communication with investors and their involvement in problem-solving processes. He noted that such collaboration would contribute to the diversification and sustainability of financial resources, thereby ensuring continued development and maintaining the urban landscape in its best form.

The Minister assured that the Ministry, NUCA, and the city administrations are prepared to offer all necessary support to the investor associations. He directed the heads of the new city administrations to maintain regular and active communication with these associations to swiftly address issues and present available investment opportunities.

As part of these efforts, El Sherbiny announced the formation of a committee headed by the Deputy Head of NUCA for Urban Development, which will include the heads of investor associations, city heads or their deputies, and relevant NUCA officials. This committee will work together to resolve issues and ensure sustainable development in the new cities. A monthly report on the actions taken will be submitted to the Minister.

During the meeting, the Minister listened to the inputs from the heads of the investor associations, who outlined the challenges they face and offered suggestions for enhancing the associations’ resources. They expressed their gratitude to Minister El Sherbiny for his willingness to meet with them and consider their demands.