Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, participated on behalf of Dr. Mostafa Madbouly, Prime Minister, in the opening session of the activities of the Fourth Al-Ahram Real Estate Conference, under the title “Real Estate and Current Challenges... Constructive Ideas for a Better Future,” in the presence of a number of officials and businessmen. , and real estate developers, to discuss the challenges and promising opportunities of the real estate sector, and come up with realistic recommendations and solutions that achieve the development goals of the Egyptian state.

Egyptian real estate sector

Engineer Sherif El-Sherbiny, in his speech delivered on behalf of Dr. Mostafa Madbouly, Prime Minister, confirmed that the contribution of real estate sector activities to the national economy has gradually increased in recent years thanks to the national projects implemented by the Egyptian state, recording 20% of the Egyptian gross domestic product. Egyptian real estate is also considered a store of value, whether for individuals or companies, and thus maintaining the balance of this sector is a strategic goal for the balance of the economy.

Engineer Sherif El-Sherbiny expressed his happiness to participate in this annual gathering of the Al-Ahram Foundation, which is his first participation after assuming the housing portfolio, extending his sincere greetings and appreciation to those in charge of organizing these events, which include major companies, experts and those interested in the real estate field in Egypt, and wishing the success of the conference and its effective contribution to Continuing the development process that the Egyptian state began during the era of His Excellency President Abdel Fattah El-Sisi.

Urban and real estate development

The Minister of Housing said: Since 2014, and under the directives of President Abdel Fattah El-Sisi, President of the Republic, the Egyptian state has taken upon itself the issue of urban and real estate development as one of the national priorities to encourage national and foreign investment, explaining that the various state institutions are working hard to overcome the economic, financial and legislative challenges facing the real estate sector. In Egypt, working to create a good climate for investment.

The Minister added: Perhaps the focus of the conference this year, under the title “Real Estate... and Current Challenges... Constructive Ideas for a Better Future” is one of the most important topics, which coincides with the directives of His Excellency President Abdel Fattah El-Sisi to think about new and constructive solutions, and therefore I stress the importance of opening a fruitful discussion that ends with recommendations. Applicable and will be taken into consideration.

Development of the northwest coast

Engineer Sherif El-Sherbiny confirmed that what has been implemented since 2014 until now is the result of a group of constructive ideas included in the national strategic plan for urban development, and here we are today... after 10 years, we are reaping the fruits of development and the returns of those ideas and goals, adding that the development of the North Coast Al-Gharbi is an implementation of one of the constructive ideas and development vision to attract foreign investments in this promising region, create job opportunities, and establish a network of new urban communities.

The Minister of Housing explained that, in order to develop the northwest coast, the implementation of the new city of El Alamein, “one of the fourth generation cities,” was begun to be the beginning of the dream for the northwest coast, and here we are today... after the completion of the first phase of the new city of El Alamein, and attracting real demand for Tourism investment: The city of Ras El Hekma is the best evidence of the importance of the projects undertaken by the state during the previous period and its efforts to attract foreign investments.

At the end of his speech on behalf of the Prime Minister, Eng. Sherif El-Sherbiny wished the fourth Al-Ahram Real Estate Conference success in addressing and discussing the various dimensions of the real estate industry in Egypt in a way that serves the national economy in our new republic.

Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, was honored by Dr. Mohamed Fayez Farhat, Chairman of the Board of Directors of Al-Ahram Foundation, and Mr. Maged Mounir, Editor-in-Chief of Al-Ahram, wishing him success in assuming the housing portfolio. The Minister also participated in handing over appreciation awards to a number of Personalities working in the field of real estate development.