Prime Minister Mostafa Madbouly attended the handing over of residential units of the presidential initiative “Housing for all Egyptians” to the limited-incomes families in Capital Gardens city (Hadayek al-Assema).
The handing over ceremony was attended by Minister of Housing, Utilities and Urban Communities Sherief-al Sherbiny.
Head of the Social Housing and Mortgage Finance Fund Mai Abdel Hamid reviewed progress achieved by the “Housing for all Egyptians” initiatives, which was launched in 2014, under the auspices of President Abdel Fattah-al Sisi.
She said that 928,000 housing units have been offered for sale, while 72,000 other units will be offered later in 2024.
While 684,000 residential units have been finalized, the construction of 244,000 other units is still underway, the head of the fund said.
She noted that some units will be handed over to those who applied for reservation in the announcement “Housing for All Egyptians” no.1.
More than 590,000 housing units have been allocated, some of which have been sold to entities, Abdel Hamid said.
She added that 54,000 residential units are being implemented with bank clients.
The remaining 22,000 units will be offered shortly with other units, Abdel Hamid added.
The “Housing for All Egyptians” project came in line with President Abdel Fattah El Sisi’s directives to provide suitable housing units for all citizens, as the project allows them to pay the cost of the unit without any charges for the plot of land.
