Dr. Tarek Wafiq, Egypt’s Housing and Urban Communities Minister, and the Egyptian Endowment Minister Dr. Talaat Afifi have signed cooperation protocol between Endowments Authority and Mortgage Finance Fund in order to support 6610 residential units for low-income people in Badr, Sadat and Tenth of Ramadan cities.
Dr. Wafiq has stated that this protocol comes within the framework of efforts which have done by the Housing Ministry in order to provide Subsidized housing unit for low-income people, pointing out that the Ministry aims to increase the offered uints so as to solve the housing dilemma.
Wafiq added that the total available units as a first phase is 6610 units, while it is scheduled that 40.000 units will be provided in cooperation with the fund and the Endowments Authority, noting that 2016 ready units in Badr city, 2110 in Sadat and 2484 in Tenth of Ramadan, the total areas of the residential units are ranging between 50 square meters as a minimum and 73 square meters as a maximum.
A number of representatives from the Mortgage fund have attended including Mai Abdel Hamid, Chairman of Egypt’s Mortgage Finance Fund and Eng. Salah Abdo Junaidi, the General Director of the Egyptian Endowments Authority.