Housing Minister inaugurates Egypt’s New Experience for Reconstruction Tomorrow
Egyptian Housing Minister Moustafa Madbouly is set to inaugurate Sunday Egypt’s first “Government & Developer: A Partnership for Development” Conference with the theme of “The new Egyptian experience for reconstruction”.
In the presence of 400 executive leadership of major real estate developers, “Government & Developer Initiative: A Partnership for Success” is a partnership between the state and the private sector and will be attended by and under the auspices of many governmental entities including Ministry of Housing, Utilities and Urban Development, Egyptian Financial Supervisory Authority (EFSA), The Egyptian Exchange, New Urban Communities Authority (NUCA) and Egyptian Federation for Construction & Building Contractors (EFCBC).
Government & Developer Initiative launched by “Excellent Communications” -the specialized Public Relations and events managements Agency- targets gathering top financial minds and real estate sector influencers to discuss financial solutions and the roadmap for highlighting the importance of the participating the private sector in state’s major economic projects in sectors like housing, energy, transportation and agriculture, this in addition to identifying the mechanism of partnership between the two parties in order to enable investors to carry out the needed project in the due date without being stumbled. This also provides many financing alternative and new financial mechanisms support achieving sustainable development.
The new Egyptian experience for reconstruction conference displays the partnership future between the state and the private sector in new real estate projects signed during the economic summit. Those major real estate projects include the new administrative capital, the commercial, administrative and residential real estate projects in all governorates targeting achieving a sustainable economic development helps in gaining consumer confidence and increase the traffic of sales.
The conference’s sessions will discuss a number of topics ruling the future of partnership between the state and the real estate investors through displaying the experiences of the companies which signed MOU with the Ministry of Housing and the challenges which the companies faced. The conference’s sessions also will discuss the role of the banks in the real estate project’s financing expansion and the main the role which the investment banks can play to support the real estate companies in announcing part of its shares in the stock exchange and select the proper time for that. That is in addition to discussing the market’s need for new financing processes such as the real estate funds to attract Gulf and foreign investment.
According to Excellent Communications, major real estate projects that were signed within the economic summit will advocate both the government as well as the real estate developers to formulate new and distinctive forms of partnership. This will also support eliminating all obstacles appeared recently in the market. Partnership system will also allow investors to pump in investments directly in the project without any financial burdens related to land and installments and consequently, supporting the government’s ability to fund and construct low-income housing projects.
Excellent highlighted that the market currently needs clarifying and explaining numerous information of the investors’ participation with the government in the real estate projects regarding the processes of partnership and the volume of fully utilized land plots especially that the real estate sector attracts many of the Arab and foreign investors. Excellent indicated that the real estate sector succeeded during Sharm El Sheikh’s conference in seizing the largest volume of the foreign investments and projects’ memorandums of understanding (MoU).
