Prime Minister Dr. Mostafa Madbouly chaired a meeting with the Advisory Committee on Urban Development and Real Estate Export, attended by several ministers and the Governor of the Central Bank of Egypt. During the meeting, Madbouly emphasized the importance of holding regular sessions to follow up on the implementation of recommendations proposed by committee members. He highlighted the government’s efforts to accelerate property registration procedures and boost the export of real estate, particularly in light of the growing demand for residential unit ownership.
During the meeting, the Prime Minister addressed the challenges facing the real estate sector, including the need for developers to ensure that revenues from property sales abroad in foreign currency are transferred into the Egyptian banking system. The meeting also discussed the establishment of regulations governing real estate exhibitions held in Egypt that promote foreign projects, stressing that prior approval must be obtained from the Ministry of Housing. Members of the advisory committee presented mechanisms to promote Egyptian real estate products abroad and strategies for marketing and selling these properties internationally, reiterating the critical importance of bringing foreign currency into the banking sector.
The Minister of Justice highlighted the ongoing efforts by the Ministries of Justice, Housing, and Communications to launch a digital platform for real estate sales in the near future. He also mentioned that a draft law is being studied for preliminary property registration. Additionally, two new offices will be inaugurated in the New Administrative Capital — one for the sale of properties to foreigners and the other for processing marriages involving foreign nationals.
The Minister of Housing, for his part, reviewed ongoing cooperation with relevant authorities to implement the committee’s recommendations, including coordination with the Minister of Justice on preliminary registration, and the establishment of two units dedicated to exporting real estate and regulating the property market. The outcomes of this work are expected to be submitted soon to the advisory committee and the Cabinet.
The official spokesperson presented international models for delivering digital real estate services, outlining the core pillars of these successful experiences. The presentation proposed several digital systems to enhance integration in the field of real estate export, such as property data verification platforms, digital contract signatures, real estate registration systems, property management tools, and systems for issuing unique property identification numbers. The discussion also touched on the roles of various government entities in executing this integrated system, along with a timeline for implementing the first phase in one of the new urban cities.