Egypt's minister pushes for stronger returns, partnerships in real estate, construction sectors
The session, held at the headquarters of the Egyptian Contracting Company (Mokhtar Ibrahim), focused on evaluating project progress, performance metrics, and future plans, including upcoming contracts.
Also attending were Mohamed Mostafa, Executive Managing Director of the Holding Company, along with senior officials from the ministry.
El-Shimy stressed that the construction and real estate sectors play a pivotal role in Egypt's broader urban development strategy. He underscored the importance of delivering projects on time and to a high standard, while urging affiliated companies to maximise the return on state-owned real estate assets. He also called for the expansion of economically viable projects and stronger partnerships with the private sector.
The minister reviewed the contributions of affiliated companies to national development initiatives across multiple governorates. These include infrastructure and utility projects under the 'Decent Life' presidential initiative—such as wastewater treatment facilities, water purification plants, bridges, schools—as well as residential developments in the New Administrative Capital. Additional projects include electrical work in the New Delta, North Coast, Red Sea, Beni Suef, Giza, and Qena, as well as shoreline protection in Alexandria and Marsa Matrouh.
A key part of the discussion focused on the economic utilisation of real estate assets and increasing private sector investment. Updates were provided on the New Heliopolis development, including enhancements to infrastructure, landscaping, pedestrian walkways, internal roads, and gates, along with a planned mixed-use compound combining residential, commercial, and administrative spaces.
El-Shimy highlighted the successful restoration of the historic Granada Palace in Heliopolis, now reopened as a cultural and artistic venue. This was presented as a model for integrating heritage preservation with strategic investment.
The meeting also touched on the rebranding of the Heliopolis Company for Housing and Development, signalling a strategic shift toward institutional development, improved marketing, and stronger customer trust.
Other real estate projects discussed included Areba in the North Coast, Raqia in El-Ibrahimia, Grand View Smouha 2, Maadi View El Shorouk, Maadi Valley, Sea Bell in New Mansoura, and development plans in Hadayek Al-Asimah, where a comprehensive urban community is being designed. Updates on international ventures and recent contracts were also shared.
Additionally, affiliated construction companies' contributions to broader ministry initiatives were reviewed. These include the national textile industry revitalisation project, the rehabilitation of El Nasr Automotive, upgrades to pharmaceutical companies, and the Jaz Asila resort in Marsa Alam.
El-Shimy urged companies to focus on integrated real estate developments, improve marketing strategies, and take full advantage of high-value land assets to create distinctive and competitive projects.
He also emphasised the importance of expanding into regional and global markets, leveraging the technical expertise and accumulated experience of affiliated firms to enhance competitiveness and diversify revenue streams.
Customer satisfaction was highlighted as a core success metric, with El-Shimy calling for ongoing improvements in customer service, project quality, and operational efficiency. He pointed to stronger financial performance and rising real estate sales as signs of positive momentum.
Concluding the meeting, the minister praised the synergy among subsidiaries under the Holding Company for Construction and Development and their collaboration with other entities under the ministry. He affirmed that such integration is essential for accelerating project execution, maximising returns on state investments, and advancing comprehensive national development goals.
© 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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