Senior real estate stakeholders, experts, and government officials converged at the Nile Ritz-Carlton last week Thursday to discuss the feasibility of a partnership between the public and private sector, investment opportunities in Upper Egypt, and the real estate sector’s contribution to the national economy.
The Business Breakfast, a prelude to Cityscape Egypt called attention to the ongoing development and progress of Egypt’s real estate sector, focusing on the future of the industry in the country, and discussed various measures to improve and support the sector.
Khaled Abbas, Assistant Minister of Housing for Technical Affairs, highlighted the government’s plans in his keynote address: “The Ministry of Housing is waiting for the New Urban Communities Authority (NUCA) to finalise the launch of the second phase of new land plots for investments in New El Alamein and New Mansoura cities within April 2018. The launch will take place following the conclusion of all infrastructure and facility works in the two cities,” he said.
According to Abbas, the Ministry is expected to launch more projects from NUCA, either through selling land or partnerships with developers.
As part of the government’s plan to develop Upper Egypt, the Ministry will look to launch land plots in West Assiut and New Qena in April. “The ministry will allocate large plots of