Mohamed Shimi, Egypt’s Minister of Public Enterprises Sector, met with the Board of Directors of the New Cairo and Administrative Capital Developers Association at the ministry’s headquarters to discuss potential areas of cooperation.
The meeting was attended by Mohamed El-Bustani, Chairperson of the Association; Ayman Mokhtar, Acting CEO of the Holding Company for Construction and Development; Mohamed Abdel Maksoud, Executive Managing Director of El Nasr Housing and Development Company; and Sameh El-Sayed, Executive Managing Director of Heliopolis Company for Housing and Development.
During the meeting, several investment opportunities and potential partnerships with state-owned companies in the real estate development sector were explored.
Minister Shimi emphasized that optimizing, developing, and effectively managing the assets of state-owned companies to maximize returns is one of the ministry’s primary objectives within the government’s broader strategy.
He reiterated the government’s commitment to enhancing private-sector partnerships and attracting local and foreign investments per the State Ownership Policy. He also highlighted the success of several existing partnerships between state-owned companies and the private sector across various fields. These partnerships, he noted, are expected to expand, especially given the promising investment opportunities in diverse sectors, including real estate development. The minister pointed out prime locations across various governorates suitable for residential, commercial, administrative, and tourism projects.
For his part, El-Bustani expressed the New Cairo and Administrative Capital Developers Association’s keen interest in collaborating with the Ministry of Public Enterprises and its affiliated companies. He noted that the association represents over 160 companies operating in the real estate development sector.
