Big real estate export targets for next year: The Madbouly government is targeting USD 2 bn in proceeds from its new real estate export platform next year, a government source told EnterpriseAM.

What platform? The Housing Ministry plans to create an online platform in collaboration with real estate developers to market residential units to Egyptians and foreigners abroad, our source said. The government aims to boost real estate exports by allowing units to be sold in FX, with the platform set to streamline the sales process and attract a broader client base.

A real estate fund may also be in the works: The ministry is currently mulling the establishment of a real estate fund or company to oversee international sales, the source said. While no final decisions have been made, developers may be able to use USD revenues to import foreign components, easing pressure on FX reserves, the source added.

The government recently launched the Your Home in Egypt initiative, offering Egyptians living abroad 5k residential units and villas in cities like New Alamein, the new capital, and New Mansoura, according to a Housing Ministry statement. A dedicated website for the initiative is set to go live in January.

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