The main topics included following up on the implementation
of the Advisory Committee for Urban Development and Real Estate Export
recommendations, as well as the newly approved facilitation measures.
The meeting was attended by Dr. Walid Abbas, First Deputy
Chairman of the New Urban Communities Authority; Rana Badawi, Deputy Governor
of the Central Bank for Regulatory Instructions; and members of the advisory
committee representing the real estate sector, including Engineer Naguib
Sawiris, Engineer Tarek Shoukry, and Engineer Khaled Abbas.
The Prime Minister emphasized the importance of holding
regular meetings with advisory committee members to hear their insights and
proposals on various issues. He highlighted the significant role of the real
estate development, construction, and building sectors in driving economic
growth and providing thousands of job opportunities.
Dr. Madbouly noted that real estate exports are a government
priority, as they serve as a vital engine for supporting the national economy
and attracting foreign currency. He added that the sector has recently achieved
notable progress. The government is committed to building on these results by
expanding the inclusion of new cities on the official electronic platform for
real estate exports, while implementing the Unified National Number Law for
Real Estate to ensure maximum transparency and reliability for foreign investors.
The government also continues to provide all necessary facilities and
incentives to enhance the competitiveness of the Egyptian real estate market
regionally and globally.
Advisory committee members highlighted the significant
expansion in the construction and building sector overall, not limited to real
estate development alone. They stressed the need to increase the supply of raw
materials required by the sector and to support the contracting industry,
especially given the large number of ongoing projects that require qualified
contractors, while some are being attracted to foreign markets.
During the meeting, Dr. Walid Abbas explained the
facilitation measures introduced by the Ministry of Housing, Utilities, and
Urban Communities for the sector, aimed at supporting and stabilizing markets.
He noted that the sector contributes to economic revival, industrial activity,
and job creation.
The meeting also addressed key issues related to regulating
the real estate market, including preparing specific legislation to protect
serious developers and hold non-compliant parties accountable.