The Ministry of Housing, Utilities, and Urban Communities is currently working on setting up a company for managing real estate assets and exporting them abroad, the Assistant Minister of Housing Abdelkhalek Ibrahim told Asharq Business.

The new company is being established in collaboration with the Central Bank of Egypt (CBE) and the Ministry of Finance, Ibrahim said.

Set for launch soon, the venture targets exporting and selling 25,000 residential and commercial units in its first phase, he noted.


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