Egyptian Minister of Trade and Industry Amr Nassar has decided to activate the Export Council of Real Estate, Invest-Gate reports.

This comes as part of the trade ministry’s decision to restructure the export councils and to reduce their number to 12 from 16 councils, according to a ministerial statement on January 2.

The real estate council will be chaired by Rooya Group’s CEO Hisham Shoukri, while the board members will include Fathallah Fawzy, founder of Mena Group, Ahmed Shalaby, managing director of Tatweer Misr, in addition to CEO of City Edge Developments Amr El Kady, and CEO of Iwan Developments Waleed Mokhtar, the statement added.

The decision comes in line with the ministry’s plan to promote the Egyptian exports and to make a leap in their rates across different sectors.

Nassar further noted that the ministry has set specific standards for the members of the export councils, aiming to reinforce the role of each one.

The three export councils of textile industries were merged into one, while the Export Council for Metallurgy Industries was combined with the Export Council for Building Materials and Refractory, Nassar added in the statement.