Eng. Sherif El Sherbini, Minister of Housing, Utilities and Urban Communities, participated in the official launch event of Egypt’s Government Real Estate Platform, supported by the Multiple Listing Service (MLS) system, Invest-Gate reports.
In his speech, El Sherbini emphasized that the event represents a dream come true for digital transformation in the real estate sector, achieving several important goals, including the export of Egyptian real estate and the establishment of an identification number for residential units. He noted that the platform serves as an umbrella for all stakeholders in the real estate sector.
He expressed appreciation for organizing this event, which addresses one of the most critical aspects of the real estate system. The Egyptian state has prioritized urban and real estate development as a national objective to encourage both domestic and foreign investment. The activities of the real estate sector contribute significantly to the national economy and have been gradually increasing in recent years, thanks to national projects implemented by the Egyptian government. Egyptian real estate serves as a store of value for individuals and companies; therefore, maintaining the sustainability of this sector is a strategic goal for balancing the national economy.
El Sherbini added that the focus of this event on registering, marketing, and exporting real estate aligns with the directives of Egypt’s President Abdel Fattah El-Sisi to pursue new and constructive solutions for attracting and encouraging international investment.
He pointed out that exporting real estate requires a set of executive procedures and various facilities. The Ministry of Housing is currently working to develop an integrated strategy for marketing Egyptian real estate abroad and identifying target markets, which involves limiting the supply of units, classifying them, and integrating them into a unified electronic system.
El Sherbini highlighted that establishing a unified platform for Egyptian real estate is a strategic goal to effectively manage the real estate system, enhance Egypt’s position on the global real estate investment map, stimulate foreign investments, and open new horizons for Egyptians abroad and international investors. This initiative aims to achieve a significant boom in the Egyptian real estate sector.
El Sherbini continued, “Through the unified real estate number, we can better identify, manage, and market real estate wealth, while regulating the relationship between individuals and real estate developers. The launch of the Egypt Digital Platform is a crucial step towards the state’s digital transformation and enhancing transparency in the real estate market. It provides an integrated digital portal that allows potential buyers, whether inside or outside Egypt, to view all available properties. These digital platforms will also offer real estate owners a range of services, contributing to increased real estate value. Additionally, the real estate platform can be utilized to promote and invest in fourth-generation cities, especially in the New Administrative Capital and El Alamein.”