Egypt beats housing target, over 15,000 units completed in Q1

Egypt’s Ministry of Housing, Utilities, and Urban Communities exceeded its first-quarter housing target, building 15,329 units, a 118.5 per cent achievement rate.

During a general session of the House of Representatives, Minister Sherif El-Sherbiny highlighted the ministry’s latest accomplishments for the first quarter of the current fiscal year as well as its updated strategy.

This achievement is part of the government’s ambitious plan to make 376,500 housing units of various types available for citizens, in addition to constructing over 173,000 more units, Minister El-Sherbiny noted. The plan is focused on addressing the housing needs of diverse social segments and supporting citizens’ aspirations for homeownership.

Transforming Upper Egypt

He further said that the ministry is spearheading efforts to transform Upper Egypt into a hub for foreign investment and private sector participation. The ministry’s strategy involves developing fourth generation cities, such as New Aswan, New Fashn, New Mallawi, Nasser (West Assiut), and West Qena, to create jobs, improve living standards, and drive economic growth. Additionally, the ministry is planning to develop new cities in Esna, Luxor, Nag Hammadi, Beni Mazar, Girga, Samalut, Sebaiya, and Hurghada.

Border Governorates on the Pipeline

Minister El-Sherbiny also outlined ongoing efforts to foster balanced regional development, particularly in border governorates. The ministry is actively implementing development projects in Sinai, reinforcing Nubian homes in Aswan, and constructing traditional Bedouin houses in border areas. The first quarter of the fiscal year saw the completion of 145 such homes, and work has begun on the new city of Bir Al Abd, the minister noted.

Attribution: The Egyptian Cabinet