Egyptian government builds 1M residential units for low-income citizens

CAIRO – 26 June 2024: Chairwoman of the Social Housing and Real Estate Financing Fund Mai Abdel Hamid stated Wednesday that one million residential units were being built for low-income citizens in addition to 28,000 units allocated to middle-income citizens.

Further, there are 55,500 units that are being built within the green housing initiative at the cities of New Obour, 10th of Ramadan, Capital Gardens, New Aswan, New October, Badr and 15th of May.

The total number of applicants on units offered by the fund is 1.6 million, while the total size of funding provided amounted to LE70 billion.

With regard to the demographics of funding recipients, 76 percent males; 24 percent females; 48 percent work for the private sector; 29 percent work for the public sector; 22 percent are self-employed; one percent are pensioners; 56 percent are married with kids; 16 percent are married; 22 percent are single; four percent are divorced; and, two percent are widowed.