Sherif El-Sherbiny, Egypt’s Minister of Housing, Utilities, and Urban Communities, met with representatives from Abdul Mohsen Al Hokair Holding Group, a leading player in real estate, entertainment, tourism, hospitality, retail, education, and healthcare in Saudi Arabia. The meeting focused on exploring potential collaborations and investment opportunities in Egypt’s new cities, particularly within the real estate and tourism sectors.
Attended by officials from the Ministry of Housing and the New Urban Communities Authority, the session highlighted Egypt’s ongoing efforts to create a more investment-friendly environment through legislative reforms, new laws, and attractive incentives for both local and international investors. Significant strides have also been made in infrastructure development, enhancing the overall investment climate.
Minister El-Sherbiny outlined several high-potential investment opportunities, including in the hotel sector, which is crucial to accommodating the growing influx of tourists. He emphasized available incentives and resources designed to support the realization of these opportunities, which aim to expand the number of hotel rooms in line with increasing demand.
The Minister also presented various plots of land in promising locations that could be developed in collaboration with Al Hokair Group, highlighting the strategic advantages of partnering with the Ministry of Housing to maximize the potential of these areas.
The meeting concluded with an agreement to prepare a comprehensive plan detailing the group’s proposed projects. Continued discussions between the company and ministry officials will ensure progress and coordination in bringing these plans to fruition.
