Egypt’s Prime Minister Moustafa Madbouli has witnessed the signing of a co-operation protocol at the Government Headquarters in New Alamein City between the New Urban Communities Authority (NUCA) and the Future of Egypt for Sustainable Development Authority to maximise the utilisation of state assets, support sustainable urban development and attract investment.
Minister of Housing, Utilities and Urban Communities Engineer Randa el-Menshawy, Executive Director of the Future of Egypt for Sustainable Development Authority Colonel Bahaa El-Ghannam, and Deputy Minister of Housing for Urban Communities Walid Abbas were present at the signing ceremony, the Cabinet Spokesman Ambassador Mohamed el-Homosani said in a statement.
He added that the agreement aims to strengthen co-operation in developing and utilising land owned by both parties through development and investment projects that maximise asset value, increase investment rates and support sustainable development.
It builds on ongoing coordination between the Ministry of Housing and the Future of Egypt for Sustainable Development Authority to implement strategic projects based on scientific planning and the optimum use of land, supporting integrated urban communities and Egypt Vision 2030.
Under the protocol, both sides will prepare technical and economic feasibility studies, coordinate the tendering, marketing and promotion of joint projects, and attract local and international investments to maximise economic returns.
Joint technical and financial committees will also be established to oversee implementation, maintain coordination and address challenges to ensure projects are completed on schedule.
Minister el-Menshawy said the protocol reflects the state’s commitment to increasing the economic value of its assets through stronger co-operation among national institutions, more efficient working mechanisms and expanded investment opportunities.
She noted that the ministry continues to develop its real estate asset management system in line with international best practices, diversify investment and partnership models, strengthen transparency and governance, and enhance the competitiveness of Egypt’s property market regionally and internationally.
