The Minister of Housing chairs the board of directors of the General Authority for Tourism Development
Minister of Housing, Utilities, and Urban Communities, Engineer Sherif El-Sherbiny, chaired a meeting of the Board of Directors of the General Authority for Tourism Development to review the Authority's work files, the progress of tourism development projects, and ways to boost tourism investment.
During the meeting, a package of measures was approved to accelerate tourism investment, including: rescheduling installments for tourism development and investment companies without affecting the payment deadlines for subsequent installments, within the framework of facilitations previously approved by the Board.
In addition, the deadline was extended for tourism development and investment companies that have received preliminary approvals and are committed to fulfilling their financial obligations, to finalize the preliminary approval procedures and begin the final allocation process.
Engineer Sherif El-Sherbiny emphasized the support for serious investors in hotel projects and the provision of all necessary facilitations to increase the number of hotel rooms.
During the meeting, the Authority's revenues from July 1, 2025, to January 2026 were reviewed, reaching approximately EGP 4.689 billion, representing 294% of the target for the same period in the current fiscal year. It should be noted that the Authority is currently developing the technical regulations and requirements to support the investment climate in the tourism sector.
At the conclusion of the meeting, Engineer Sherif El-Sherbiny directed the continuation of coordination and the intensification of efforts to boost tourism investment and keep pace with developments in various fields.