Cairo: Minister of Housing, Utilities and Urban Communities Randa el Menshawy met with Minister of Communications and Information Technology Raafat Hendy at the headquarters of the Ministry of Housing to review implementation progress and coordinate efforts ahead of launching the first phase of the Egyptian Real Estate Export Platform.
According to State Information Service Egypt, the meeting is part of ongoing efforts to facilitate foreign investment in Egypt's real estate market through a comprehensive digital platform, supporting property purchases with competitive advantages aligned with global markets. This initiative aims to bolster the national economy and enhance Egypt's position on the international real estate investment map.
Menshawy praised the collaboration between the ministries in developing the platform and highlighted it as a strategic step to market Egypt's real estate products internationally. She noted the platform's potential to increase foreign direct investment, stimulate economic sectors linked to real estate, create employment opportunities, and support sustainable development goals.
The housing minister emphasized that the platform will simplify procedures, providing a secure and transparent investment environment for foreign investors by offering access to approved, licensed, and verified real estate projects. Promoting Egyptian real estate abroad is seen as a key pillar for supporting the national economy, given Egypt's competitive advantages and promising property market.
Hendy highlighted the platform's role in enhancing the global competitiveness of Egyptian real estate while facilitating property sales and digital documentation with security and confidence. He commended the cooperation between the ministries on digital transformation projects aimed at simplifying procedures for citizens.
Hendy also emphasized the Ministry of Communications and Information Technology's commitment to leveraging the latest technologies, including artificial intelligence and secure cloud computing, to provide a seamless digital experience for investors. The platform's infrastructure is designed to meet the highest international standards of global digital real estate markets.
The platform will enable property buyers to access a range of interactive electronic services and complete transactions with government authorities efficiently. The meeting also covered efforts since the political leadership directed the establishment of the real estate export system, with the first implementation phase set to launch in New Alamein City, a key destination for real estate investment.