Madbouly reviews progress on real estate export platform
In attendance were Minister of Communications and Information Technology Amr Talaat, Minister of Justice Adnan Al-Fangari, Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny, along with other senior officials.
At the outset, Madbouly emphasized the government's commitment to advancing the real estate export agenda, describing it as a strategic national priority. He noted that efforts are underway to simplify property acquisition procedures for foreign buyers and streamline the real estate registration process.
He further highlighted the government's recent policy incentives and ongoing promotional campaigns through Egyptian embassies and consulates worldwide to attract international investment in the sector.
According to Cabinet Spokesperson Mohamed Al-Homsany, the meeting reviewed the progress of the digital real estate export platform, including operational mechanisms and inter-agency coordination. The discussion also covered several technical and regulatory elements essential to the platform's launch.
Al-Homsany noted that the Ministry of Communications has completed the issuance of Property ID numbers for over 18 million housing units—an important step toward digitalizing the sector.
The Ministry of Justice also presented a detailed framework for the issuance of the 'Establishment and Validity Certificate' for real estate transactions involving sold units.
Additionally, the meeting reviewed the eligibility criteria for real estate developers seeking to list and sell properties through the platform, as well as a range of procedures currently being finalized in coordination with relevant authorities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily News Egypt
4 hours ago
- Daily News Egypt
Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation
Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has met with Minister of Planning and International Cooperation, Rania Al-Mashat, to coordinate efforts to prepare Egypt's industrial sector for the European Union's Carbon Border Adjustment Mechanism (CBAM) and advance green transformation. The meeting focused on ongoing cooperation for low-emission industry programmes, particularly the Green Sustainable Industries (GSI) initiative, and collaboration with the European Bank for Reconstruction and Development (EBRD) under the NWFE platform. Discussions also explored a proposal to establish a new national platform—modelled after NWFE—to mobilise concessional financing and international grants to support private-sector green industrial projects centred on decarbonisation, energy efficiency, and clean technologies. In addition, the ministers discussed opportunities for Egypt to benefit from the Green Climate Fund's (GCF) High Impact Programme for the Private Sector, a flagship initiative managed by the EBRD. The programme aims to help private-sector projects in developing countries reduce industrial emissions and accelerate the transition to a green economy through a mix of grants, concessional loans, and innovative financing instruments. The initiative aligns closely with Egypt's National Climate Change Strategy 2050 and its Nationally Determined Contributions (NDCs), while placing no direct financial burden on the state budget. It represents a key potential route to finance the decarbonisation of Egyptian factories and help them meet emerging global environmental standards. To advance these efforts, Al-Wazir directed the formation of a joint technical committee—including representatives from the Ministries of Industry and Transport—to coordinate directly with the Ministry of Planning and International Cooperation. This committee will oversee the implementation of priority projects, ensure alignment with international financing platforms, and enhance the readiness of Egypt's industrial sector for new environmental requirements. Al-Wazir also stressed the importance of coordinating with the Egyptian Ministry of Foreign Affairs and other national institutions to engage in voluntary carbon credit systems, supporting Egypt's shift to low-emission industry ahead of CBAM enforcement. He reaffirmed the government's commitment to helping factories transition to green production through partnerships with development partners and other ministries. For her part, Minister of Planning and Economic Development Rania Al-Mashat reviewed recent progress in Egypt's international partnerships supporting industrial development. She highlighted that the non-oil manufacturing sector has led GDP growth since the March 2024 economic reforms, posting growth rates of 7.1%, 17.7%, and 16.3% across the first three quarters of FY 2024/2025 and contributing 1.9% to GDP growth in Q3 alone. Al-Mashat emphasised the government's focus on strengthening the manufacturing sector to boost exports and expand tradable industries. The ministry is working closely with international development partners to secure technical support, grants, and concessional financing to reduce carbon emissions and accelerate industrial transformation. She noted the GSI programme, which provides approximately €271m (around EGP 16bn)—including EGP 1.2bn in grants—to promote pollution reduction, renewable energy use, and sustainable industrial practices. She also pointed to ongoing cooperation with the Green Climate Fund to access concessional finance for private-sector projects, reinforcing Egypt's role as a strategic green energy partner to the EU. Additionally, Al-Mashat highlighted Egypt's selection among seven countries to participate in the Climate Investment Funds' (CIF) Industrial Decarbonization Program, which offers nearly $1bn in concessional finance for the private industrial sector. Egypt is currently in discussions to determine the size of its share. Al-Mashat reaffirmed continued coordination with the Ministry of Industry to leverage international partnerships that empower private industry, cut carbon emissions, and boost export competitiveness—particularly in accessing European and global markets.
Daily News Egypt
4 hours ago
- Daily News Egypt
Egypt's FRA chief vows to reform business environment to boost investor confidence
Egypt's Financial Regulatory Authority (FRA) is serious about reforming the business environment in the non-banking financial sector to boost the confidence of local and foreign investors, its chairperson Mohamed Farid said on Monday. Speaking at the 'Egypt Day' event at the London Stock Exchange, Farid said that the credibility of the investment climate begins with local investors' confidence in policies and the business environment. Farid was part of an official delegation on a promotional tour organised by the Egyptian-British Business Association. In his remarks, he outlined the FRA's efforts to contribute to Egypt's 'Vision 2030' by unleashing private sector growth. He highlighted the authority's focus on digital transformation as a key driver for the non-banking financial sector's role in the national economy. This includes developing regulations for fintech, enhancing market protection and innovation, and updating accounting standards to improve transparency. Other key initiatives mentioned were the launch of Africa's first regulated voluntary carbon market in Egypt and the drafting of a new unified insurance law. Farid said the FRA's main objectives are market integrity and stability, protecting customers' rights, digitalisation, and simplifying procedures. He added that the authority's goals support the government's efforts to increase private sector participation in achieving economic growth. The FRA chairperson pointed to the success of recent digital initiatives, noting that new regulations for identity verification and digital contracts have paved the way for a surge in new accounts. He said that over 200,000 new accounts were registered in gold investment funds within one year, with investments exceeding 2 billion Egyptian pounds. Farid also discussed the FRA's work on developing legislative frameworks to stimulate investment, including a flexible model for participatory financing and new rules for digital investment platforms in real estate investment funds. He affirmed that market stability and investor confidence remain top priorities. He noted that the FRA had recently overseen a comprehensive update to Egyptian accounting standards, introducing fair value models for fixed and intangible assets and real estate investments. This allows companies to more accurately reflect their financial position, supporting sound financing and investment decisions. Farid also highlighted the FRA's support for entrepreneurship and innovation, including developing new valuation standards for startups to help them access the necessary financing for growth.
See - Sada Elbalad
8 hours ago
- See - Sada Elbalad
Egypt Settles $1 Billion in Arrears to Int'l Oil Companies
Taarek Refaat Egypt's Prime Minister, Mustafa Madbouly, announced today that the government has paid $1 billion of its outstanding debts to global oil companies operating in the country. This payment is part of a broader strategy to resolve Egypt's growing financial obligations and maintain investor confidence in its energy sector. In a statement to Reuters, Madbouly confirmed that the Egyptian government plans to settle an additional $1.4 billion before the end of this year. The move is aimed at strengthening Egypt's ties with international energy partners and enhancing the country's appeal as a destination for foreign investments in energy. 'Egypt is fully committed to settling the dues owed to foreign companies operating in the petroleum sector,' said Madbouly. 'We will continue to meet payments according to the agreed-upon timeline to ensure the sustainability of foreign investments in this vital sector.' These remarks come as Egypt looks to expand its role as a regional hub for natural gas and oil trade. The country is seeking to increase its energy production and exploration activities, particularly in the face of rising global demand for natural gas. The settlement of outstanding payments to oil companies has been a priority for Egypt, particularly after the economic challenges faced by the country in recent years. These debts had accumulated due to fluctuating oil prices and domestic financial pressures. In return, the oil companies had been vocal about the delays, requesting prompt settlement of their dues to continue operations smoothly. The payment strategy also forms a key element of Egypt's broader economic reform program, which has garnered support from the International Monetary Fund (IMF) and other global financial institutions. The country has worked tirelessly to balance its fiscal policies while addressing the needs of foreign investors. The debt settlement aligns with Egypt's goal of boosting foreign direct investment (FDI) in its energy sector. By clearing these financial obligations, the government aims to enhance investor confidence, paving the way for increased exploration and production activity, especially in the country's offshore gas fields and oil reserves. Foreign companies are essential to Egypt's energy landscape, bringing not only capital but also technology and expertise. As part of its strategy to strengthen the energy sector, Egypt has focused on making the country a more attractive place for international companies by ensuring timely payments and maintaining stable regulatory policies. The move to clear these debts is welcomed by the global oil community, which has long been waiting for a resolution to the overdue payments. Over the past several years, oil companies such as BP, ExxonMobil, and Shell have expressed concerns about the delayed payments, which at times hindered their operations and led to calls for clearer timelines on outstanding dues. Egypt's ability to settle these debts is seen as a sign of financial stability and is expected to encourage further investments in oil and gas exploration and production. It will also bolster Egypt's ambitions of becoming a regional energy hub for both natural gas and oil. The resolution of these payment issues is an essential component of Egypt's economic reform strategy, which has been supported by the IMF and other international financial organizations. Settling debts with foreign companies not only reinforces Egypt's commitment to financial transparency but also signals to the international community that the country is serious about economic reform and creating a stable investment environment. With energy production seen as one of the pillars of Egypt's economic recovery, the government is taking proactive measures to ensure the long-term sustainability of its energy sector. The settlement of these debts is expected to increase confidence among both foreign and domestic investors, promoting further growth in the sector. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
