The meeting focused on the implementation of the strategy and the creation of a platform to export Egyptian real estate. Officials from the ministry and the New Urban Communities Authority were present to hear the developers' input and suggestions.
El Sherbiny said the strategy is a cornerstone of the
state's vision for sustainable development and a green economy, put in place
under directives from President Abdel Fattah El-Sisi.
He also said a key discussion point was promoting Egyptian
real estate and launching a dedicated platform. He noted that the ministry has
prioritized the digitalization and governance of the real estate market in collaboration
with the Ministry of Communications and other relevant bodies to establish a
platform for exporting properties.
The strategy's key points were discussed, including its
requirements and incentives for developers who adopt its standards. These incentives,
based on extensive studies of international and local best practices, include
financial benefits like tax exemptions and financing facilities, as well as
non-financial benefits such as simplified procedures, priority land allocation,
and environmental certifications.
The meeting also reviewed the criteria for obtaining these
incentives, such as using water- and energy-efficient materials, recycled
materials, and energy-saving lighting systems.
Discussions also covered the creation of the real estate
export platform, which will feature a secure infrastructure, internationally
recognized documentation standards, multi-language and multi-currency support,
and legal protections to attract investment.
The developers thanked El Sherbiny for his efforts to
support the real estate sector and praised the initiatives, stating they would
help develop the industry and encourage investment.
El Sherbiny provided the developers with a copy of the strategy for their feedback and suggestions, which will help accelerate its implementation and broaden its impact across Egypt's cities and communities. He also requested their input on the real estate export platform.