During the meeting, El-Sherbiny highlighted significant
strides in the governance and digital transformation of the real estate sector,
underscoring the ministry's commitment to stabilizing the Egyptian real estate
market. The initiative involves extensive cooperation with the Ministry of
Communications and other relevant entities, El-Sherbiny said during a recent
meeting.
The minister emphasized the importance of achieving goals
for both real estate market regulation and export initiatives. He explained the
ministry's vision to organize the market and promote Egyptian real estate
through dedicated platforms. These platforms will include criteria for
evaluating developers, registering and licensing real estate brokers, and
establishing assessment standards to ensure market stability.
El-Sherbiny stressed the necessity of collaborative efforts
among all stakeholders and seamless integration with the existing "Egypt
Real Estate" platform. The latter will serve as the central hub for all
various platforms and procedures aimed at regulating the market, promoting
exports, and showcasing available housing units in Egypt. This central platform
will also integrate with other related platforms.
Discussions during the meeting focused on operational
mechanisms and coordination among relevant authorities to ensure clients can
access all property-related services through a single window, with the ultimate
goal of displaying all available units in Egypt via the "Egypt Real
Estate" platform.
Egyptian officials have reviewed the detailed systems for a
new platform aimed at boosting real estate exports and a dedicated unit for
market regulation. The discussions focused on establishing robust governance
and infrastructure for these initiatives.
Key features of the new systems include secure unit exchange, globally recognized documentation standards, multi-language and multi-currency support, and mechanisms for general transfers. The government emphasized the importance of protecting the rights of all parties involved to encourage further real estate investment in Egypt.