Egypt is actively working to revitalize its real estate sector, aiming to drive economic growth and provide ample housing opportunities for its citizens, according to Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny.

The ministry’s strategy focuses on enhancing the real estate market by removing obstacles to establishing real estate funds, attracting foreign investments, and forging joint real estate portfolios with countries like Saudi Arabia and the UAE.

Speaking at an Egyptian Businessmen’s Association event, El-Sherbiny highlighted the ministry’s strategic approach to fostering a dynamic real estate market. This includes easing barriers to real estate fund operations, attracting foreign investment, and forging joint property portfolios with Saudi Arabia and the UAE.

He underscored the critical role of real estate funds as financial instruments that offer diverse investment opportunities and strong returns.

He also emphasized the sector’s significant contribution to job creation, economic growth, and sustainable development, noting its recent boom supported by Egypt’s Vision 2030. “We are working diligently to develop a legislative and regulatory framework that supports investment, encourages innovation, and ensures a balance between supply and demand, ultimately meeting the aspirations of both citizens and investors,” El-Sherbiny stated.

El-Sherbiny pointed to the sector’s significant growth in 2024, driven by increasing demand, particularly from Egyptians abroad and Gulf citizens, who accounted for nearly one-third of real estate sales, attributing this growth to confidence in the Egyptian market, competitive prices, and major development projects like the New Administrative Capital.

Housing remains the sector’s main driver, with an annual demand for two million units due to population growth and urban expansion. Commercial, administrative, and tourism-related real estate, particularly in Alamein and the Northwest Coast, are also seeing rising demand. Major infrastructure projects, including road networks and smart cities, further fuel growth. 

El-Sherbiny stressed collaboration among government, investors, and developers for a sustainable real estate sector, reaffirming the ministry’s commitment to long-term growth and national development goals.