Minister Sherif El-Sherbiny chaired a meeting of the Tourism Development Authority's board to review progress and accelerate investments. The board approved measures to reschedule payments and extend grace periods for tourism companies. The authority achieved revenues of EGP 4.689 billion by January 20, 2026.
Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny chaired a meeting of the Board of Directors of the Tourism Development Authority (TDA) to review the authority's work agenda, assess progress on tourism development projects, and discuss ways to accelerate tourism investment. The board approved a package of measures aimed at stimulating investment in the sector. These include rescheduling installment payments for tourism development and investment companies, without impacting deadlines for subsequent payments, as part of previously endorsed facilitation measures. The package also extends the grace period for companies that have obtained initial approvals and are committed to settling their financial obligations, providing extra time to complete initial procedures and proceed with final land allocation steps. El-Sherbiny reaffirmed the government's support for serious investors in hotel projects, emphasizing that all necessary incentives are being provided to expand hotel room capacity in line with the state's tourism growth targets. The meeting reviewed the authority's revenues from July 1, 2025, to January 20, 2026, which reached approximately EGP 4.689 billion—equivalent to 294% of the targeted revenues for that period in the current fiscal year. Additionally, the minister noted that the authority is updating its technical regulations on standards and requirements as part of ongoing efforts to improve the investment climate in the tourism sector. At the meeting's conclusion, El-Sherbiny directed continued coordination and intensified efforts to advance tourism investment and keep pace with sector developments.