Dr. Mostafa Madbouly, Prime Minister, today followed up on the latest developments in the implementation of the Egypt Real Estate Platform for exporting Egyptian property, in the presence of Dr. Amr Talaat, Minister of Communications and Information Technology; Counselor Adnan Fangary, Minister of Justice; Eng. Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities; and Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade, along with a number of officials.
At the outset of the meeting, the Prime Minister pointed to the growing demand for Egyptian real estate, particularly from several countries, explaining that the establishment of the platform aims to facilitate property ownership for Egyptians living abroad and for foreigners by offering a variety of units that cater to different segments.
He stressed that the platform represents an important tool to enhance the state’s foreign currency resources, within the framework of the government’s focus on developing the real estate investment file, which is witnessing significant growth.
On the other hand, Dr. Amr Talaat, Minister of Communications and Information Technology, reviewed the features of the new platform, explaining that it relies on a secure digital system in line with governance and data protection standards. He added that the platform is linked to the national real estate identification number to ensure the documentation of units and verification of ownership.
He also emphasized that the main objective of the platform is to coordinate the export of real estate within a unified regulatory framework that enhances transparency, guarantees the protection of investors’ rights, and builds international confidence in the Egyptian real estate market.
The minister noted that the platform has begun its first phase by offering more than 3,000 residential units in New Alamein City, all of which have obtained national real estate identification numbers. He pointed out that future phases will witness an expansion of activity to include new cities and projects developed by accredited private sector developers.
For his part, Eng. Sherif El-Sherbiny, Minister of Housing, presented a report on the progress of work in the first and second phases of the project. He explained that the first phase included issuing national real estate identification numbers for New Alamein units and completing this process last September, alongside organizing training workshops for real estate marketing companies on how to use the platform.
He also confirmed that the second phase includes the introduction of units in areas such as the New Administrative Capital, New Mansoura, New Rosetta, and others, with the aim of listing them on the platform in the near future.
He further pointed to cooperation with the Central Bank of Egypt to define mechanisms for opening and managing bank accounts for developers, with the aim of regulating the financial flows related to selling units to foreigners, stressing the importance of the platform’s role in supporting the state’s foreign currency reserves.
In the same context, Counselor Adnan Fangary, Minister of Justice, announced the completion of a draft decision regulating real estate transactions to facilitate procedures and guarantee buyers’ rights, in a way that helps provide foreign currency and prevents any duplication in the sale of units.
Meanwhile, Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade, stressed the significant potential Egypt possesses to attract real estate investments, pointing to government efforts aimed at facilitating procedures and providing integrated services through the Egypt Real Estate Platform to meet investors’ needs and support the real estate market.
