Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, emphasized the importance of the real estate sector as a fundamental pillar for enhancing economic development in Egypt. Speaking at a business Suhoor event organized by the Egyptian Businessmen’s Association, he highlighted how government policies and significant projects increase the real estate market’s attractiveness. Welcoming investors in attendance, he noted that the sector provides job opportunities and contributes to growth and sustainable development. He praised the significant boom in the industry, driven by the “Egypt 2030” vision, and stressed the importance of developing a legislative and regulatory framework that supports investment and encourages innovation.
Real estate development goes beyond merely constructing projects; it represents an investment in the future of communities and improving quality of life by building modern cities that meet the needs of future generations. The government places great importance on establishing policies and legislation that enhance the business environment and promote the use of modern technologies in construction and urban planning. The Egyptian real estate sector witnessed remarkable growth in 2024, with strong demand from Egyptians abroad and Gulf nationals, who accounted for one-third of real estate sales. This growth is attributed to Egypt’s competitive market advantages and large-scale projects like the New Administrative Capital. The market enjoys diverse demand across residential, commercial, administrative, and hospitality units, with an annual housing demand of approximately 2 million due to population growth and urban expansion.
The Minister of Housing reaffirmed that real estate development in Egypt extends beyond construction to encompass a comprehensive vision aimed at creating an integrated urban environment that fosters dignified living and economic and social development. He emphasized the importance of collaboration among all stakeholders to achieve a real estate renaissance and reiterated the ministry’s commitment to working with strategic partners to achieve sustainable development goals. Following his speech, the minister held a discussion session to answer questions from attending companies, expressing his gratitude to individuals involved in organizing the event. After the event, the Egyptian Businessmen’s Association honored the minister for supporting the real estate sector.
