Eng. Sherif El Sherbini, Minister of Housing, Utilities and Urban Communities, participated in the honoring ceremony for the Egyptian real estate sector’s achievements in 2024, Invest-Gate reports.

The event was attended by a large number of real estate developers and investors, reflecting Egypt’s exceptional development vision, continuous operational capabilities, and ongoing coordination with the private sector to maintain the strength and attractiveness of the sector.

El Sherbini also received two honorary shields during the ceremony, in recognition of his pioneering role in supporting the real estate sector. He expressed his gratitude for this honor and thanked the event organizers and everyone involved in its coordination.

El Sherbini shared his happiness at participating in the event and meeting with real estate developers and investors. He emphasized the continued support for promoting projects and investments in the sector, as well as the commitment to overcoming various obstacles and addressing challenges faced by those in real estate development.

He noted that they are partners in the path of development and success, working to provide more investment opportunities across various activities and to expand partnership projects with the private sector, as these are key attractions in the new cities.

In his speech during a discussion session on the sidelines of the celebration, El Sherbini highlighted that six main mechanisms have been established to provide investment opportunities for real estate developers in new cities through the New Urban Communities Authority (NUCA).

The most notable mechanism involves developers with existing project balances on the lands, divided into three levels: large developers, medium developers, and small developers.

This framework allows these developers to obtain plots of land for any activity and enables novice developers to access multiple investment opportunities through an electronic platform on the NUCA website.