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The Egyptian Minister of Housing, Utilities and Urban Communities, Randa El-Menchawy, confirmed that the government is currently working on the preparation of the draft law regulating the real estate market, and is also discussing with the sector companies the establishment of a union of real estate developers in Egypt, stressing the importance of the real estate sector, which contributes about 20% of GDP, and includes about 6 million direct or indirect jobs, which increases the importance of organizing it, according to the Egyptian “Shorouk”.
The Minister of Housing announced the sale of about 15,000 plots of land to Egyptians abroad during 2026, worth nearly $1.5 billion.
The Prime Minister, Dr. Mostafa Madbouli, witnessed, at the government headquarters in the new capital, on Monday, the signing ceremony of contracts between Hyde Park Real Estate Development Company and the banks of «Al-Ahly Egyptian» and «Egypt»; to buy a new plot of land in the heart of the 6th of October in the eastern expansion area in the city of 6 October «formerly Dreamland Land»; to establish a huge real estate project.
The area of the plot of land is 415 acres, representing the fourth project of the company in West Cairo and the tenth within its real estate portfolio
It is noteworthy that the plot extends over an area of 415 acres, representing the fourth project of the company in West Cairo and the tenth, within its total real estate portfolio, to become the new project the largest project of the company in West Cairo so far.
The agreement embodies an effective model of cooperation between major banking institutions and the real estate sector, with the aim of achieving new investment aspirations and urban expansions, as well as the vital role played by banking alliances in supporting serious developers to achieve added value to the Egyptian market.
The agreement was signed by Eng. Amin Serraj, Managing Director of Hyde Park Real Estate Development Company, and Karam Salah, Chairman of the Board of Directors of the Egyptian Real Estate Asset Management and Investment Company, owned by the National Bank of Egypt and Banque Misr.
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