Latest news with #SherifEl-Sherbiny
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast
The dispute over land ownership on Egypt's Northwest Coast is intensifying, as the government threatens to repossess undeveloped plots from real estate developers. This has prompted more than 120 companies to enter urgent negotiations to resolve their legal and administrative status. Developers are under mounting pressure following the Ministry of Housing, Utilities, and Urban Communities' decision to temporarily suspend dealings with 74 real estate entities, citing failures to meet allocation conditions and delays in payments. The crisis deepened when authorities imposed retroactive fees for land transfer and improvement—ranging from EGP 500 to 1,000 per square metre. Developers strongly objected to what they described as an abrupt and uncoordinated move, especially given the challenging economic climate, marked by rising construction costs and significant currency fluctuations. Meanwhile, inspection committees uncovered multiple cases of land held without proper ownership documents, alongside licensing complications arising from overlapping responsibilities among government entities. In response, the state has moved to centralise land oversight under the New Urban Communities Authority (NUCA). While 162 companies have been formally urged to rectify their legal status, many developers have called for the new fees to apply only to future projects, and for legislative dialogue to reassess the imposed amounts and introduce financial facilitations to ease market disruption. The Association of Real Estate Developers (arD) is closely following a recent decision issued by the NUCA Board of Directors during session No. 205 of 2025, which allows for the cancellation of land allocations to developers facing outstanding or rescheduled payments, delays in obtaining licences or ministerial approvals, or failure to sign contracts within three months of their last official interaction with the authority. The Association stressed that the decision has raised serious concerns among companies operating in the sector, particularly given current economic pressures, sharp rises in construction costs, and administrative delays often beyond developers' control—all of which could slow project completion. In response, the arD has submitted an official request for an urgent meeting with Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, to discuss the decision and propose solutions that both protect the state's rights and support the continuity of real estate projects—key drivers of Egypt's economy. The Association also called for the grace period for settling arrears to be extended from three to six months, allowing committed companies to regularise their status and meet financial obligations amid mounting economic pressures on the real estate sector. While affirming developers' full commitment to the state's urban development plans and to upholding market discipline, the arD urged the adoption of more balanced policies that take into account current economic challenges, helping ensure the continuation of projects and protecting the country's sustainable development agenda—a central pillar of Egypt's economic vision. The Association noted it has been the only entity actively working to engage all relevant stakeholders since the start of the crisis. It warned that enforcing the decision without adequate notice for companies to address compliance issues could harm the investment climate and undermine investor confidence—both domestic and international—in Egypt's real estate market.
Daily News Egypt
13-07-2025
- Business
- Daily News Egypt
Egypt establishes Real Estate Market Regulation Unit to oversee sector transparency
In a move to restructure and modernize the country's rapidly expanding real estate sector, Egypt has launched the Real Estate Market Regulation Unit, a new entity tasked with overseeing the operations of developers, brokers, and marketing companies to improve transparency and accountability. The announcement was made by Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Development, who outlined the unit's core responsibilities. These include regulating relationships among sector stakeholders, streamlining property registration procedures, supervising ongoing property maintenance, and establishing systems for market evaluation. Established in mid-2025, the new unit responds to mounting concerns over the fragmented nature of Egypt's real estate marketing landscape. Recent years have seen a sharp rise in the number of brokers and marketing agencies—many operating without licenses or adequate oversight—which has prompted growing calls for stricter regulation and greater market transparency. As part of the same initiative, the government has launched the Egypt Real Estate Platform, a centralized digital portal designed to standardize and verify property transactions. The platform provides a comprehensive database of legally registered property listings, certified developers and brokers, a system for submitting complaints, and standardized marketing guidelines to protect consumers. At the meeting announcing the initiative, Minister El-Sherbiny emphasized the importance of developing a fully integrated database covering every aspect of the real estate sector. He also called for the creation of a comprehensive strategic vision in partnership with real estate developers and relevant stakeholders to achieve the objectives of the new unit and digital platform. The minister added that these measures aim to bring Egypt's real estate sector closer to international standards. The initiative is expected to strengthen investor confidence, improve market practices, and offer greater protection to homebuyers from misleading or unregulated transactions.
Daily News Egypt
30-06-2025
- Politics
- Daily News Egypt
Egypt vows not to abandon ‘old rent' tenants, plans alternative housing
The Egyptian government will not abandon tenants living under the country's long-standing 'old rent' system and is working to provide alternative housing, two ministers told parliament on Monday during a debate on a proposed new law. Local Development Minister Manal Awad and Housing Minister Sherif El-Sherbiny addressed a plenary session of the House of Representatives, chaired by Speaker Hanafi Gebaly, which was discussing a government-drafted bill to amend rent laws and reorganise the relationship between landlords and tenants. The ministers' remarks came in response to questions from members of parliament about the fate of tenants, particularly those with low incomes, under the proposed changes. 'The Egyptian state and the government will not abandon the old rent tenants when the law is applied,' Awad said, reassuring parliament that the state has successful precedents in providing housing, citing its experience in clearing informal settlements and providing a decent life for residents of unsafe areas. Awad confirmed that there were vacant plots of land of various sizes available in all governorates. She said this land, which was recovered by the state under a 2017 law, is in the possession of the governorates and is suitable for development. The local development minister added that she would provide parliament with a detailed and audited statement of the available land in each governorate on Tuesday. She also said her ministry would coordinate with other state bodies, such as the Agricultural Reform authority and the Ministry of Endowments, to secure more land for housing projects, especially in governorates that lack a desert hinterland. Participating in the same session, Housing Minister Sherif El-Sherbiny said the government was keen to achieve a fair balance between the rights of owners and tenants while protecting vulnerable groups. 'The ministry is keen to achieve social balance in the application of the draft law, and all cases are being taken into consideration with great care during the preparation of the proposed implementation mechanisms,' El-Sherbiny said, adding that tenants' income levels and social conditions would be considered to ensure fair solutions. The housing minister revealed that his ministry is studying the possibility of excluding certain properties from the new regulations. These include residential units that have been kept closed and unused, as well as cases where tenants are found to own more than one other habitable unit. El-Sherbiny said these measures would 'ensure the redirection of housing resources to the most needy and genuinely prioritised groups' and would 'prevent the freezing of unexploited real estate resources.' He confirmed that his ministry would coordinate with the Ministry of Local Development to study the provision of necessary land to support housing efforts. The alternative units to be provided would vary in price and size to suit the financial capabilities of those eligible, El-Sherbiny said, adding that 'absolute priority will be given to the categories most in need of care to ensure social justice.' He concluded by affirming that the housing ministry 'is working on flexible and comprehensive implementation plans to provide the required units… with the government's commitment to achieving a complete balance between implementing the upcoming law and providing suitable alternatives.'
Daily News Egypt
23-06-2025
- Business
- Daily News Egypt
Egypt raises rural sanitation coverage to 60% in 2025 amid major infrastructure expansion
Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny announced that Egypt has achieved a significant leap in the execution of infrastructure projects for drinking water and sanitation, resulting in substantial improvements in service coverage across both urban and rural areas. El-Sherbiny noted that the total number of drinking water and sanitation projects completed or currently under implementation has reached approximately 5,100, with total investments estimated at around EGP 671bn. Among these, around 1,919 drinking water projects have either been completed or are underway, aiming to enhance water services and add a total production capacity of 16.6 million cubic metres per day. The investment in these water projects amounts to EGP 275.8bn. In parallel, the number of sanitation projects—both urban and rural—has reached approximately 3,181, with a combined treatment capacity of 11.6 million cubic metres per day and a total cost of EGP 394.6bn. This also includes two strategic agricultural drainage treatment plants: Al-Mahsama and Bahr El-Baqar, collectively providing 6.6 million cubic metres per day of capacity at a cost of EGP 16bn. As a result of these efforts, Egypt's national drinking water coverage increased from 95% in 2014 to a projected 99% by 2025, while urban sanitation coverage rose from 79% to 96% over the same period. The most dramatic improvement, however, has been in rural sanitation coverage, which surged from just 12% in 2014 to an expected 60% by 2025, based on the total rural population. El-Sherbiny added that the total number of drinking water plants—including surface, artesian, and desalination facilities—has reached approximately 3,188, with a current production of 30.7 million cubic metres per day and a design capacity of 44 million cubic metres per day. The national drinking water network has expanded to cover about 181,000 kilometres. Meanwhile, wastewater treatment infrastructure includes about 602 treatment plants (primary, secondary, and tertiary) with a combined design capacity of 18.9 million cubic metres per day, and a total sanitation network spanning approximately 92,000 kilometres. A major portion of this expansion falls under the first phase of the presidential Decent Life initiative, which targets rural development. Under this initiative, 891 drinking water projects and 923 sanitation projects have been completed or are in progress—totalling 1,814 projects—with an estimated value of EGP 121bn. Additional investments of EGP 39bn have been allocated for network expansions, renovations, reinforcements, and household connections. This brings the total investment in the drinking water and sanitation sector—both completed and ongoing—to approximately EGP 726bn. El-Sherbiny stressed that these developments reflect the state's prioritisation of equitable service delivery, sustainable infrastructure, and improved quality of life for all Egyptians—especially in historically underserved rural communities.
Daily News Egypt
22-06-2025
- Business
- Daily News Egypt
Egypt to host global forum on coastal urban development, sustainable cities
Deputy Prime Minister and Minister of Transport and Industry Kamel Al-Wazir, along with Minister of Housing Sherif El-Sherbiny, inaugurated the 10th Builders of Egypt Forum on Sunday. The forum marks a significant step as Egypt prepares to host a major international event focused on sustainable urban expansion, with a spotlight on transforming coastal areas—particularly the development of New Alamein City into a global destination for tourism and investment. Key themes of the forum include the integration of advanced technologies for managing coastal cities, optimizing natural resource use, and addressing the challenges of balancing economic growth with environmental sustainability. The event also highlights successful global case studies in green and smart urban investment. As part of its broader 'New Republic' vision, Egypt has launched 14 coastal cities that are redefining the nation's border governorates as thriving tourist and economic hubs. These cities, which form part of Egypt's fourth-generation urban development strategy, vary in size, location, and project scope. Leading examples include New Alamein, Ras El Hekma, Marina El Alamein Center, and the cities of Sidi Barrani, El-Negaila, El-Salloum, New Rashid, New Mansoura, New Port Said, and New Bir El-Abd. Several countries are adopting similar strategies to capitalize on their geographic advantages, aiming to build new tourist cities that spur economic growth and increase foreign currency inflows. The forum serves as a platform for presenting such ambitions, offering investment opportunities that benefit both local and international stakeholders. Government representatives and industry leaders will share their visions for continuing sustainable development programs and discuss planned initiatives to support key sectors—especially construction and its associated industries. The forum also sheds light on the evolution of construction companies in terms of technical capabilities, management structures, and the adoption of innovative implementation tools. Another central focus is fostering collaboration among Egyptian construction firms across various specialties, with the goal of expanding the export of contracting services throughout the region. The event promotes partnerships aimed at enabling qualified companies to extend their operations to international markets. Egyptian construction companies have played a pivotal role in driving the country's recent urban transformation. Their expertise in deploying advanced building technologies has been instrumental in executing flagship projects such as the high-rise residential towers in the New Administrative Capital and New Alamein, as well as critical infrastructure developments, including roads, bridges, and power networks.
