Engineer Sherif Al-Sharbini, Minister of Housing, Utilities and Urban Communities, stated that Egypt now has “a reserve of units, projects, and huge investment opportunities qualifying it to export real estate” through private sector projects or those implemented by the Urban Communities Authority.

He revealed during a televised interview on the program “Ala Mas’ouliyati” aired on Sada El-Balad channel that the ministry is currently working on launching a “new platform for real estate exports”.

He explained that the electronic platform will serve as a tool to “facilitate all procedures for foreigners,” adding that it “grants residencies linked to the value of the purchased unit, in addition to allowing registration for foreigners to ease security procedures after owning the unit,” also noting the issuance of a “Certificate of Establishment” until all dues are fully paid.

He also announced a new offering as part of the second phase of the combined offering of 400,000 housing units via the “Egypt Real Estate Platform,” mentioning the offering of nearly “25,000 housing units” in mid-October.

He clarified that the offering will be for the first time through the “Egypt Real Estate Platform” and will include various units in New Cairo, 6th of October, 10th of Ramadan, Badr, and Obour cities, serving middle, upper-middle, and luxury income groups.

Regarding the “Housing for All Egyptians” project, he revealed that the total units reached “1.2 million housing units” for low and middle-income groups.

He pointed out that the ministry intensified the pace of offerings last year, noting the offering of 78,000 units, followed by another for middle-income groups, culminating in the latest offering that included 115,000 units.