Engineer Sherif El-Sherbiny, Egypt’s Minister of Housing, affirmed the government’s success in launching joint investment funds with Saudi Arabia and the UAE to support the construction sector and attract foreign investments. He highlighted the state’s increasing focus on promoting Egyptian real estate exports, supported by the introduction of a new law granting citizenship and residency to foreigners in exchange for property ownership. Additionally, he announced the government’s intention to launch an official electronic platform aimed at safeguarding real estate transactions and enhancing the global reputation of Egyptian real estate.
In this context, the minister pointed to New Alamein City as a successful model that has become increasingly attractive to investors due to its unprecedented incentives, especially those related to public-private partnership systems. He noted that the government seeks to replicate this model in other coastal cities, with a particular focus on developing tourism, educational, and industrial components to boost regional development opportunities.
Moreover, this year’s Builders of Egypt Forum is being held as the first international platform dedicated to shaping the future of smart and sustainable coastal cities. The event is conducted under the supervision of the Ministry of Housing and in collaboration with the African Union of Construction and Building Contractors’ Organizations.