Egypt’s strategy vision 2030 requires $11.2bn annually for urban development

Egypt requires achieving comprehensive urban development with total investments worth 100 billion Egyptian pounds (US$ 11 million) annually to realize Egypt’s vision 2030, Fathallah Fawzy, Mena for Contracting & Trading Company Co-Founder and Cityscape 2016 chairman said Tuesday.

Fawzy made those comments during his welcome address at Cityscape Egypt Conference which is taking place today in Cairo under the rubric “Urbanisation, Regeneration and Partnership”.

The conference aims to discuss the main feature of the Egyptian government’s future scheme and the updates of mega national projects and real estate regulations.

The Egyptian government has launched in February 2016 the sustainable development strategy -Egypt’s vision 2030 which is considered to be the final draft of the country’s sustainable development strategy for the next 15 years.

He added that Egypt strategy during the upcoming period entails working on expanding the implementation of new housing cities through developing 80.000 feddans annually to contain the escalating population.

About Cityscape conference, the chairman commented that the conference has become a milestone in developing the Egyptian real estate market during the previous years.

Moreover, Wouter Molman Cityscape Group Director said that current conference features over expert 50 speakers from top developers, as well as government authorities to shed light on the challenges and opportunities of the real estate market