Housing, investment ministers meet on new bill

Housing Minister Mostafa Madbouly and Investment Minister Dalia Khorshid held a meeting on Monday with the two ministries’ officials to discuss the draft investment law, currently being prepared by the government to present it to the parliament.

The two ministers probed the bill’s items dealing with investment lands affiliated with the New Urban Communities Authority.

Consensus was reached on the mechanism to be adopted for offering lands for real estate investment in new cities and acquiring licenses, Madbouly said.

At the end of the meeting, Madbouly and Khorshid agreed to form a working team from the two ministries to draft items related to the Housing Ministry in the bill to help carry out the government platform, encourage investment and ease procedures.

Source: MENA