Prime Minister Mostafa Madbouly, who is also serving as the Minister of Housing, Utilities, and Urban Development has met with a number of Egyptian investors and developers to discuss future plans for promoting Egyptian real estate abroad, Invest-Gate reports.

“Several ideas have been submitted by the investors and developers to export the Egyptian real estate abroad and a team from the ministry is assigned to study their proposals and work on executing it,” Madbouly is quoted as saying in a housing ministry statement.

Some of the developers’ ideas include organizing real estate exhibitions abroad to showcase the latest projects and opportunities for investors, the statement adds.

The meeting also touched on building units for the middle-class, as developers offered to build fully-finished units in lands owned by the Ministry of Housing, in return, the developers will take lands for investment from the government with a guideline ratio of 26%.

In the meeting, developers stressed that mortgage finance is one of the most important financing tools worldwide because of its association to more than 100 industries.

They added that the wide availability of mortgage finance in Egypt with good interest rates will help raise the purchasing power and will fulfill people’s housing needs.