Heiba: A noticeable decline in the number of corporate complaints as a result of improvements to the investment climate
GAFI CEO: Updating legislation to keep pace with the rapid growth of the PropTech sector
As part of the Egyptian state’s efforts to attract foreign investment and promote digital transformation in the real estate development sector, Mr. Hossam Heiba, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), participated in the “NeoGen” Conference on Real Estate Technology (PropTech) and Sustainable Smart Cities. The conference was held under the auspices of the Canadian Chamber of Commerce and attended by a distinguished group of senior government officials and business leaders.
Mr. Heiba took part in a high-level panel discussion chaired by Dr. Fayez Ezz El-Din, Chairman of the Canadian Chamber of Commerce, and attended by Eng. Abdel Khalek Ibrahim, Deputy Minister of Housing, Utilities and Urban Communities; Ms. Sally George, representative of the Financial Regulatory Authority (FRA); Eng. Abdel Nasser Taha, Advisor to the Saudi Minister of Housing; Mr. Hany Lashin, Leevve CEO; Eng. Hossam Ezz, Fawry Plus CEO; and Dr. Ali El-Dakroury, an international business leader.
Mr. Heiba emphasized that technological thinking is inherently non-traditional and fast-evolving, which necessitates the adoption of flexible legislative and regulatory frameworks capable of keeping pace with this transformation. He explained that the Ministry of Investment and Foreign Trade, through GAFI in its capacity as the executive body responsible for investment affairs, is continuously working to enhance the business environment by issuing and updating relevant laws and regulations in line with modern technological developments. He stressed that supporting advanced technology-driven sectors is a top priority for the Egyptian state at this stage.
GAFI CEO also reviewed the key investment incentives that the Authority offers to global PropTech companies, underscoring that PropTech is considered a strategic sector that lies at the intersection of technology and real estate. He highlighted its pivotal role in improving the efficiency of real estate development, supporting the digital transformation of new cities, and attracting high-value, quality investments, within the framework of Egypt Vision 2030 and the state’s drive to promote smart cities and develop digital infrastructure.
Mr. Heiba noted GAFI manages and coordinates these incentives through the one-stop shop system, in addition to granting the Golden License to strategic PropTech projects.
These measures ensure rapid incorporation and operation, facilitate digital registration and licensing procedures, and provide access to a range of investment regimes, including technology zones, free zones, and investment zones, depending on the nature of the activity.
He added that companies operating in this sector can benefit from multiple financial and tax incentives, including deductions from the taxable investment base, exemptions from stamp duty and notarization fees, simplified customs systems for equipment and software, as well as additional incentives for companies engaged in research and development, technology and knowledge transfer, or those that support partnerships between real estate developers and technology firms.
In this context, Mr. Heiba affirmed that GAFI places significant emphasis on activating the Permanent Support Unit for Startups and strengthening the role of the Investor Dispute Settlement Center, as key mechanisms for supporting the investment climate and ensuring investor stability.
He pointed out that a noticeable decline in the number of complaints and issues submitted by companies has been observed in recent periods compared to previous ones, reflecting the efficiency of the integrated system adopted by the state, the speed of response to investor challenges, and the enhancement of trust between investors and government entities.
Mr. Heiba concluded by stressing that GAFI does not merely provide investment incentives, but it is also working to build an integrated ecosystem that positions Egypt as an ideal platform for the integration of technology and real estate development, thereby creating real added value for investors, the national economy, and the cities of the future.
At the conclusion of the event, Dr. Fayez Ezz El-Din, Chairman of the Canadian Chamber of Commerce, honored Mr. Hossam Heiba, GAFI CEO, in recognition of his prominent role in supporting the investment environment and his ongoing efforts to promote digital transformation and attract high-quality investments to the Egyptian market. He commended GAFI’s vision and its pivotal role in improving the investment climate and strengthening international partnerships.
