The Egyptian-African Businessmen’s Association (EABA) held an intensive meeting in Cairo on Saturday to discuss opportunities for real estate development in the Kingdom.
The meeting was attended by Majid Al-Hogail, Saudi Minister of Housing, Dr Essam bin Saad bin Saeed, Saudi Minister of Hajj and Umrah, and Engineer Mohamed Albuty, Chairman of the Board of National Housing. Company, as well as the Construction and Construction Committee of EABA, headed by Engineer Mahmoud Hegazy and a group of prominent Egyptian real estate developers.
The Saudi side detailed the Kingdom’s achievements over the past six years in the housing sector, highlighting the role of the National Housing Company in this regard.
“All of this has contributed to the growth in the volume of financing of real estate projects from 30 billion riyals to nearly 380 billion riyals in the past 5 years,” Al-Hogail said, highlighting the growing demand for the housing system. integrated implemented by Saudi Arabia.
The Saudi minister affirmed his full support for the efforts of Egyptian real estate developers to work within the Kingdom, saying that Saudi Arabia was “proud of Egyptian expertise and ready to strengthen cooperation in this area”.
For his part, Dr Yousri El-Sharqawy, head of the Egyptian-African Businessmen Association, stressed that the Kingdom has provided a pioneering model in real estate development.
He added that EABA was eager to establish joint investments between the private sector and real estate developers under the auspices of the leaders of the two countries.
Friday, Ing. Hisham Talaat Moustafa, CEO and Managing Director of the Talaat Moustafa Group, received the Saudi Minister and his Egyptian counterpart, as well as the accompanying Saudi delegation, during a visit inside the city of Madinaty in New Cairo .