Egypt to finish implementing 100K housing units in 20/21: Finance Minister

CAIRO – 12 July 2020: Egypt will finish implementing 100,000 housing units during fiscal year of 2020/2021, in addition to planning to finish implementing 105,000 units in 2021/2022, according to Minister of Finance Mohamed Ma’it.

Ma’it added during his speech on the sidelines of the opening of a number of national projects in the presence of President Abdel Fatah El-Sisi, Sunday, that it is also planned to finish the implementation of 105,000 housing units during the fiscal year 2022/2023.

The minister stressed that during the past years, 455,000 social housing units and middle-income households with a total cost of LE 65 billion have been completed. “During the next three years, 250,000 social housing units will be implemented at a cost of LE 70 billion, and 60,000 middle-income housing units at a cost of LE 30 million, with a total 310,000 new housing units.”

Ma’it said that within the next three years, 765,000 housing units will be completed from the One Million Housing Initiative, at a cost of LE 165 billion.

President Abdel Fatah El-Sisi inaugurated on Sunday a number of national megaprojects, including the Al-Asmarat 3 housing project in Cairo's Mokattam district, which was established to house residents of slums.

<blockquote class="embedly-card"><h4><a href="https://www.egypttoday.com/Article/1/89554/Egypts-President-Sisi-inaugurates-number-of-national-development-projects">Egypt's President Sisi inaugurates number of national development projects</a></h4><p>CAIRO - 12 July 2020: President Abdel Fattah El-Sisi inaugurated on Sunday a number of national megaprojects, including the Al-Asmarat 3 housing project in Cairo's Mokattam district, which was established to house residents of slums. The inauguration ceremonies are attended by Prime Minister Moustafa Madbouli, Parliament Speaker Ali Abdel Aal and a number of ministers.</p></blockquote>

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