Housing minister discusses investment in new cities with Sawiras

CAIRO - 20 February 2018: Minister of Housing, Utilities and Urban Communities Mostafa Madbouli said that investment chances in the new cities are the best in the current stage.

During a meeting with businessman Naguib Sawiras Tuesday, the minister said the real estate investment sector achieved successes during the past years.

Madbouli said the New Urban Communities Authority is preparing a large number of plots of lands in new cities for carrying out real estate projects, pointing out that the housing ministry is interested in enabling a company owned to Sawiras to invest in the real estate domain.

For his part, Sawiras said his company wants to invest in the real estate sector in the new cities.

He pointed out that the company has been launching projects in many countries such as Egypt, Cyprus, Britain, Greece and the United State using world consultancy offices for carrying out the projects.