Work is set to commence on 310,000 housing units in Egypt.
Egypt plans to build 765,000 homes
01 August 2020
The Egyptian government is building a total of 765,000 housing units across the country at a total investment of E£165 billion ($10.3 billion) under the One Million Housing Initiative, reported Amwal Al Ghad.
Of these, work will commence on 310,000 units over the next three years. Nearly 100,000 homes will be completed during 2020/2021 fiscal year, while around 105,000 units will be completed during the fiscal year 2021/2022 and a further 105,000 units in 2022/2023, stated the report, citing the Minister of Finance Mohamed Maait.
These include 60,000 middle-income housing units, noted Maat.
Meanwhile, top Egyptian construction firm Al Abd said it expects to complete the final handover of 1,440 housing units at the Sixth Residential District in the country’s new capital by next December. These residential units are being built at a cost of E£750 million ($47 million), said the company’s Managing Director Said Fattouh.
“We are currently developing 36 fully-fledged buildings in the new capital’s Sixth Residential District,” Fattouh said, adding that these buildings are to be handed over next December.
- Dredging work begins on Bahrain causeway
- Egypt plans to build 765,000 homes
- Signify to boost UV-C lighting portfolio
- Kuwait scraps $1.4bn solar project over crisis
- Madayn setting up Ibri Industrial City
- Sector hit by triple whammy, says expert
- Kuwait plans ‘labour cities’ to house 950,000
- Oman issues RFP for 1GW solar projects
- Qatar awards $981m development schemes
- Petrofac completes $1.25bn Oman project
- UAE investor inks deal for $350m tech city
