Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, held a meeting with officials from Misr Italia Properties to discuss avenues of cooperation regarding a number of investment opportunities in Egypt’s new cities, Invest-Gate reports.

The meeting was attended by Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities, along with several senior officials from the Ministry and the New Urban Communities Authority (NUCA), as well as Eng. Mohamed Khaled El Assal, Chief Executive Officer and Managing Director of Misr Italia Properties, and Mr. Karim El Assal, Chief Executive Officer and Managing Director of Misr Italia Properties.

Supporting Investment and Strengthening Public-Private Partnerships

At the outset of the meeting, the Minister of Housing reaffirmed that the Ministry remains committed to implementing the directives of the political leadership to foster an attractive investment climate, provide comprehensive support to serious investors, and address any obstacles that may hinder project implementation.

She emphasized that these efforts reinforce the private sector’s role as a key partner in achieving urban and economic development, while contributing to increased investment rates and the creation of employment opportunities.

The meeting also included a review of a number of tourism and hospitality projects currently being developed by Misr Italia Properties, in addition to discussions on several potential investment partnership opportunities across various new cities, with the aim of maximizing investment volumes and ensuring the optimal utilization of land resources.

Expanding Tourism and Hospitality Developments in New Cities

In this context, the Minister stressed that tourism investment represents one of the main pillars of the development strategy for the new cities, given their promising potential to attract further domestic and foreign investments.

She affirmed that the Ministry is working to encourage the establishment of integrated hospitality and tourism developments that keep pace with the rapid urban growth witnessed across these cities.

Company officials also presented a proposal outlining a number of targeted projects planned for the coming period, reaffirming their commitment to continuing cooperation with the Ministry of Housing and expanding the implementation of hospitality and urban development projects.

At the conclusion of the meeting, Eng. Randa El-Menshawy directed that coordination between the Ministry and the company continue to study a number of promising investment opportunities across several new cities, with the objective of achieving the optimal utilization of land and supporting the expansion of integrated development projects.