The Prime Minister is following up on the implementation of the outcomes of the Advisory Committee for Urban Development and Real Estate Export
Dr. Mostafa Madbouly, Prime Minister, held a meeting today; At the government headquarters in the new capital, to follow up on the executive position on the outcomes of the Advisory Committee for Urban Development and Real Estate Export, in the presence of Dr. Walid Abbas, First Vice President of the New Urban Communities Authority, and Rana Badawi, Deputy Governor of the Central Bank of the Regulatory Instructions Sector, and members of the committee who are real estate developers.
The Prime Minister began the meeting by stressing his keenness to hold many meetings and gatherings with members of the advisory committees, with the aim of listening to their visions and proposals. In many topics and files, he pointed to the interest received by the real estate development, construction and building sector in general, given its role in driving and achieving greater rates of economic growth and providing thousands of job opportunities, saying: In light of the current positive economic indicators, I am keen to meet with you to enhance support for this sector, which receives great attention from the government as a locomotive for a large number of industries.
The Prime Minister indicated that the real estate export file represents a priority for the government as it is a vital locomotive for supporting the national economy. And attracting hard currency, as he recently succeeded in achieving a tangible boom, adding that the government is continuing to enhance these results by expanding the inclusion of new cities in the official electronic platform for real estate export, while working to activate the unified national real estate number law to ensure the highest levels of transparency and reliability for foreign investors, and committing to providing all facilities and incentives to investors to enhance the competitiveness of the Egyptian real estate market regionally and globally.
The members of the advisory committee indicated that there is a significant expansion that is being witnessed. The construction sector, in general, and not just real estate development, calling for the need to pay attention to increasing the raw materials needed by this sector, in addition to paying attention to the “contractors” sector, especially since there are many projects currently that need a large number of serious contractors, in light of the foreign markets attracting a number of contractors. It contributes to supporting and stabilizing markets, pointing out that this sector contributes to achieving economic recovery, operating the industrial sector, and providing job opportunities.
The meeting witnessed the discussion of a number of important files, related to regulating the real estate market, and working to issue special legislation for that, which contributes to protecting serious developers and holding non-serious ones accountable.
