Eng. Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities joined a high-level panel yesterday with members of the Saudi Chambers of Commerce and the Saudi-Egyptian Business Council to explore ways of boosting bilateral economic cooperation, particularly in the real estate sector, Invest-Gate reports.

The event brought together several top officials, including Deputy Prime Minister and Health Minister Dr. Khaled Abdel Ghaffar, Deputy Prime Minister, Minister of Industry and Transport Lieutenant-General Kamel El Wazir, Central Bank Governor Mr. Hassan Abdalla, Tourism Minister Mr. Sherif Fathy, Agriculture Minister Mr. Alaa Farouk, Investment Minister Eng. Hassan El Khatib, Public Business Sector Minister Eng. Mohamed Shimi, and Cairo Governor Dr. Ibrahim Saber. From the Saudi side, attendees included Federation of Saudi Chambers President Hassan Al Huwaizi and Saudi-Egyptian Business Council Chair Bandar Al Amri, along with leading investors from both countries.

El Sherbini highlighted the urban development strides Egypt has made over the past decade under President Abdel Fattah El Sisi, particularly in fourth-generation cities such as the new administrative capital, New Alamein, and New Mansoura. He extended an open invitation to Saudi investors to explore diverse real estate and tourism opportunities.

The minister also revealed plans to establish a joint Egyptian-Saudi real estate fund, managed by NUCA and the Tourism Development Authority, and announced the creation of a dedicated department within NUCA to follow up on Saudi-Egyptian projects. He emphasized the importance of removing any investor roadblocks and leveraging both countries’ expertise to drive sustainable development. El Sherbiny was honoured at the end of the event for his support of the sector.