Engineer Sherif El Sherbiny, Minister of Housing, Utilities, and Urban Communities, held a meeting today with officials from an Egyptian real estate development company to follow up on the marketing progress of certain projects under the New Urban Communities Authority. This meeting comes as part of the regular sessions the Minister conducts with marketing and real estate development companies to monitor the implementation of the ministry’s marketing plans, with the presence of officials from the authority and the ministry.
The Minister of Housing affirmed that the ministry has a clear vision for marketing and promoting all residential and development projects in the new cities, aiming to maximize the return on investments made in these projects and increase occupancy rates in these urban centers. He also pointed to the importance of enhancing revenues from the projects to support the continued implementation of new developments that meet citizens’ needs, while maintaining the ministry’s role in urban development projects, a portion of which are funded through returns from the marketed initiatives.
During the meeting, Engineer Sherif El Sherbiny reviewed the volume of unit sales in New Alamein City, particularly in the Latin District. He discussed the delivery status and instructed the need to establish a timetable for handovers along with a follow-up mechanism to ensure progress. He also stressed the importance of facilitating investment in the city. The minister further addressed the sales of the “Sawari” and “Arabesque” projects and explored avenues for cooperation in new projects and investment opportunities.