Egypt’s Real Estate Development Chamber proposes ways to implement property export initiative

Egypt’s Real Estate Development Chamber proposes ways to implement property export initiative

Egypt - The Real Estate Development Chamber at the Federation of Egyptian Industries has proposed some ways to implement the government’s initiative that allows property companies to sell their projects abroad in dollars. The chamber’s board members and other real estate developers met with officials from the Ministry of Housing, Utilities, and Urban Communities to discuss the initiative.

The meeting also included Walid Abbas, the Vice President of the New Urban Communities Authority for the Planning and Projects Sector and the Supervisor of the Office of the Minister of Housing, Abdelkhalek Ibrahim, the Assistant Minister of Housing for Technical Affairs, and Tarek Shoukry, the Undersecretary of the Housing Committee at the House of Representatives and the Chairperson of the Real Estate Development Chamber.

Shoukry said that this initiative shows the government’s strong interest in real estate export and that it benefits all parties involved in the real estate system, whether they are the government, the client, or the real estate developer. He added that ideas must be developed to create attractive and successful mechanisms that benefit all parties.

He explained that this initiative helps the government by providing urgently needed hard currency, and the real estate developer by receiving the value of the