Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities, has convened a meeting to oversee the progress of several real estate development projects in New Cairo, which are being implemented through a partnership between the New Urban Communities Authority (NUCA) and real estate developers, Invest-Gate reports.

The meeting was attended by Amin Ghoneim, Vice President of NUCA for the Development and City Development Sector; Hassan El-Shorbagi, Vice President of NUCA for Real Estate and Commercial Affairs Sector; as well as Akram Saad, Ahmed Moussa, and Muhammad Rajai, Assistants Vice President of NUCA. Abdel Raouf El-Ghaity, Head of the New Cairo City Development Authority, was also present.

During the meeting, El Sherbini assigned the head of the New Cairo City Authority with the responsibility of weekly monitoring the progress of different project components and developing a comprehensive timeline to ensure timely completion.

Furthermore, he directed NUCA and New Cities Authority officials to periodically follow up on partnership projects with real estate developers, monitor the financial flows of these projects, and ensure that there are no outstanding payments owed to the authority. They were also instructed to oversee projects implemented on lands allocated to investors and ensure adherence to the designated timelines.

El Sherbini emphasized the Egyptian state’s commitment to implementing projects in collaboration with the private sector. Currently, there are 67 developers involved in these partnership projects, covering an area of 13,000 feddans in fourth-generation cities, with a total investment value of EGP 1.1 tn, of which the state’s share amounts to EGP 311 bn. These projects are expected to create approximately 200,000 job opportunities. El Sherbini attributed the success of these extensive partnership projects to the state’s urban expansion plan.