In a pivotal meeting, Walid Abbas, Assistant Minister of Housing for the Affairs of the New Urban Communities Authority (NUCA), and Abdel Khaliq Ibrahim, Assistant Minister of Housing for Technical Affairs, has met with real estate developers to discuss a proposed initiative for exporting Egyptian real estate, Invest-Gate reports.

The meeting focused on attracting a variety of different investors, including Egyptian expatriates abroad, Arabs, and other foreign nationals, to further boost foreign direct investments in the Egyptian market.

Moreover, Abbas emphasized Egypt’s promising real estate investment market, highlighting opportunities across various sectors. He attributed this growth to the unprecedented urban renaissance under President Abdel Fattah El-Sisi’s effective leadership.

“Initiatives such as the creation of new cities, particularly fourth-generation cities, national road projects, infrastructure development, upgrading informal settlements, and revitalizing historical Cairo contribute to this developmental diversity,” Abbas added.

Furthermore, Ibrahim clarified that the meeting addressed financial aspects and proposed monetary incentives to encourage foreign investors to participate in the Egyptian real estate market.

Additionally, they discussed incentives for real estate developers to contribute to the export initiative by offering units from their projects with diverse uses (residential, commercial, administrative, etc.) nationwide.

Housing ministry officials also expressed openness to ideas from real estate developers, affirming their commitment to studying and implementing the initiative’s success. Developers welcomed collaboration with the government, aiming to ensure the success of the Egyptian property export initiative, benefiting all stakeholders.

Notably, they pledged to present a comprehensive proposal plan and suggested alternative initiatives to cater to the diverse needs of investors.