Real Estate Export Council's Head affirms need to expand Egypt's urban area

The sixth edition of the Builders of Egypt Forum kicked off on September 15

  
A general view of the newest project for future homes "One Kattameya" by Egyptian real estate development Memaar Al Morshedy Group at a highway in Cairo, Egypt, September 23, 2018. Image used for illustrative puposes

A general view of the newest project for future homes "One Kattameya" by Egyptian real estate development Memaar Al Morshedy Group at a highway in Cairo, Egypt, September 23, 2018. Image used for illustrative puposes

REUTERS/Amr Abdallah Dalsh

Cairo – Egypt has established several investment and housing projects over the last seven years since President Abdel Fatah El-Sisi took office, Head of the Real Estate Export Council, Hesham Shokry, said.

During the sixth edition of the Builders of Egypt Forum held on Wednesday, Shokry said it is time to expand the urban area to 14% from the current 7%, noting that the current population needs 12-14% of the country's total area.

He confirmed the importance of the private sector's role in building new urban communities and stated the need for expansion in partnerships with the private sector.

The sixth edition of the Builders of Egypt Forum kicked off on Wednesday under the theme of "The Egyptian Experience… and a New Vision for Urban Planning in Arab and African Countries”.

The forum brings together Egyptian ministries as well as representatives from 25 Arab and African countries, along with more than 300 executives representing major construction and real estate investment companies as well as financial, banking, and energy institutions.

Source: Mubasher

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