Minister of Housing Discusses Investor Challenges in New Cities

Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, held a meeting with the heads of investor associations in new cities to address the challenges faced by investors, whether in service projects or in existing industrial areas. The meeting was attended by Walid Abbas, Vice President of the New Urban Communities Authority (NUCA) for Planning and Projects, Ameen Ghoneim, Vice President of NUCA for Development and Urban Renewal, and other officials from the ministry and the new city authorities.

Enhancing the Role of Investor Associations

Minister El-Sherbiny emphasized the importance of strengthening the role of investor associations in new cities, fostering effective communication with investors, and involving them in problem-solving processes. He also highlighted the need to enhance, diversify, and sustain financial resources to collaborate with city councils and new city authorities to ensure the sustainability and continuity of development, the provision of necessary services, and the maintenance of urban areas in the best possible condition.

The minister assured that the ministry, NUCA, and new city authorities are ready to provide full support to the investor associations. He instructed the heads of new city authorities to maintain regular and effective communication with these associations to swiftly address issues and present available investment opportunities.

Forming a Committee for Problem-Solving

Minister El-Sherbiny directed the formation of a committee chaired by the Vice President of NUCA for Development and Urban Renewal, with the membership of the heads of investor associations or their representatives, the heads or deputies of new city authorities, and relevant NUCA officials. The committee will collaborate to resolve issues and ensure sustainable development in the new cities, with a monthly report to be prepared on the actions taken.