Egypt’s Minister of Housing, Utilities and Urban Communities Randa El-Menshawy discussed plans to establish a real estate investment fund to maximise the economic and investment returns from assets owned by the New Urban Communities Authority (NUCA), according to a ministry statement on Wednesday.
The proposed fund aims to attract domestic and foreign capital, provide new sources of liquidity and financing, and build a diversified real estate portfolio capable of generating attractive investment returns and sustainable revenues.
The discussions focused on exploring innovative investment mechanisms to improve the management of NUCA’s real estate assets, increase their economic value and generate additional funding for development and urban projects.
El-Menshawy stressed the importance of studying various investment models to maximise returns from the authority’s real estate assets, taking into account the characteristics and potential of each asset, as well as available development opportunities.
She added that diversifying investment and financing mechanisms was an important step towards improving asset management efficiency and generating additional resources to support urban development plans and keep pace with the expansion of projects across Egypt’s new cities.
The meeting was attended by Walid Abbas, Deputy Minister of Housing for New Urban Communities, along with officials from the ministry and NUCA.