Latest news with #urbanrenaissance
Zawya
04-08-2025
- Business
- Zawya
Housing ministry to launch second phase of ‘Your Home in Egypt' initiative for expats in September
Egypt - Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, took part on Sunday in the opening session of the sixth edition of the Egyptians Abroad Conference, held under the slogan 'From Everywhere… Egypt is the Destination.' The session, titled 'State Efforts in Supporting Egyptians Abroad,' was organised under the auspices of the Ministry of Foreign Affairs and the Ministry of Emigration and Egyptian Expatriates' Affairs, and inaugurated by Prime Minister Mostafa Madbouly in the presence of several ministers and representatives of Egyptian communities overseas. In his address, El-Sherbiny highlighted Egypt's sweeping urban renaissance, driven by the vision of the political leadership. The ministry's urban development strategy, he explained, rests on several pillars: building new smart cities, eliminating informal settlements, implementing the Decent Life initiative, and reviving heritage areas. Together, these efforts have delivered a diverse portfolio of real estate offerings tailored to various social segments, investors, and Egyptians living abroad—including residential, administrative and commercial units, as well as land plots. El-Sherbiny noted that among the ministry's flagship programmes for Egyptians abroad is the Beit Al-Watan (Homeland House) project. This initiative provides land plots and residential units in new cities exclusively for expatriates, enabling them to invest in Egypt's urban growth while maintaining a tangible link to their homeland for themselves and future generations. He pointed out that the tenth phase of Beit Al-Watan, launched in July 2024, included 2,973 land plots and 1,377 residential units. Strong demand led to 14,002 money transfers, prompting the ministry in January 2025 to increase the number of available land plots to 14,950. This response aimed to better accommodate the rising interest from Egyptians abroad. El-Sherbiny added that, in view of sustained demand, the ministry has offered supplementary phases by releasing additional premium plots in several new cities, combined with flexible reservation procedures to maximise benefit for applicants. This strategy also seeks to boost foreign currency remittances flowing into the national economy through real estate investment. Turning to a second major initiative, El-Sherbiny discussed the Your Home in Egypt programme. Launched in response to directives from President Abdel Fattah A-Sisi, this initiative is designed to broaden investment opportunities for Egyptians abroad and allow them to benefit directly from Egypt's urban expansion. Introduced during last year's Egyptians Abroad Conference, the first phase offered a varied and high-quality selection of housing units. The minister explained that this initial phase included 5,055 residential units, some ready for immediate delivery and others to be delivered in succession, catering to a broad spectrum of income levels. Reservations opened on 1 May, with an additional booking round launched on 22 June. Payment of booking deposits is currently underway. As part of the initiative's advantages, expatriates benefited from exclusive discounts ranging between 3% and 10% off market prices, alongside payment plans of up to ten years. El-Sherbiny announced, on the sidelines of this year's conference, the upcoming launch of the second phase of the Your Home in Egypt initiative. This new phase will offer around 3,000 units—covering residential, administrative and commercial properties—spread over roughly 19 projects in 12 cities, aiming to address diverse needs among Egyptian expatriates. It will be rolled out in three stages: the first in September 2025, the second in October, and the third in November. In conclusion, the Minister of Housing reaffirmed the ministry's continued dedication to supporting Egyptians living abroad, working in coordination with the Ministry of Foreign Affairs and the Ministry of Emigration and Egyptian Expatriates' Affairs through targeted real estate initiatives tailored specifically to them. © 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
13-05-2025
- Business
- Zawya
Vision Developments launches "REEM" and "SOUL" in Dubai
Masoud Al Zarooni: We are committed to supporting Dubai's urban renaissance with exceptional ownership plans Dubai, United Arab Emirates: Vision Developments, one of the leading UAE real estate developers, announced the launch of two new residential projects, "REEM" and "SOUL," in Dubai. The move is part of their strategic expansion plan into several promising areas in the emirate and provide housing solutions that meet the aspirations of various segments of society. The "REEM" project is located in Liwan area, near Dubai Silicon Oasis and Academic City, with strategic access to Dubai's most prominent educational and technology destinations. It consists of a residential building with a commercial ground floor spanning 8,100 square feet, a parking floor, eight typical floors, and a roof (G+P+8F+R), comprising a total of 198 spacious residential units. The "SOUL" project, located in Dubai Production City, offers a vibrant lifestyle that combines comfort and community connectivity, while being close to Dubai Sports City and Jumeirah Golf Estates. The project consists of a nine-story building and a roof (G+9F+R), comprising 176 residential units. The two projects offer a wide range of amenities, including an Infinity swimming pool, gym, yoga, cinema, indoor and outdoor children's play areas, gaming room, a dedicated children's pool, barbecue area, party hall, and office spaces. The two projects are expected to be handed over in Q4 2026, with construction works already started. 'These projects embody the company's vision of building distinct and accessible residential communities,' said Engineer Masoud Al Zarooni, Co-Founder and CEO of Vision Developments. He noted that the company aims not only to provide residential units, but also to create living communities harmonizing people's lives and reflect their aspirations. "These new projects add to Vision Developments success story of completing and delivering a number of projects in Liwan area within a short period of time, including: Vision 1, Vision 2, Karma, and Platinum' said AL Zarooni. The company is currently working on several other projects in distinct areas such as Liwan, Dubai Silicon Oasis, Jumeirah Garden City, and Dubai Production City, including: Pearls, Celine, Coral, DGM, and Vision 5 Tower. Some are scheduled for delivery by the end of this year, and others by the end of next year. The total area of these projects exceeds 2 million Sq. Ft. and includes 1,193 residential units, 487 of which have already been handed over. "Within the company, we are committed to implementing and delivering projects according to the highest standards of quality and punctuality, through our executive arm 'Vision Construction', which represents one of the main pillars of our success,' he added. 'We are also proud of our close partnership and cooperation with our founding partners, Walid Owais and Ismail Abdullah, who together form a leadership team with extensive experience, and a unified vision focused on innovation and excellence at every stage of development," the CEO said. Al Zarooni confirmed Vision Developments commitment to supporting the sustainable urban renaissance in the Emirate of Dubai and actively contributing to shaping the future of the emirate's real estate market, especially with the exceptional payment plans consisting of a 20% down payment and 80% upon completion. This contributes to increased demand through competitive prices that facilitate easy property ownership.
