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Egypt... housing boost.

Egypt begins delivery of 13,000 housing units

CAIRO, December 29, 2014

Egypt’s Ministry of Housing has started distributing 13,000 housing units to the beneficiaries of the first stage of a social housing project in three cities, a report said.

The number of housing unit buyers in the housing project surpassed 41,500, Daily News Egypt quoted a statement from the Ministry of Housing, Utilities and Urban Communities.

The ministry is working on developing a mechanism for allocating units to the beneficiaries of the former national project in the governorates, the report said.

The ministry has also decided against construction in the governorates that do not currently have a demand for subsidised housing, or reducing the number of units offered there until the demand rises. Additionally, it will increase the number of units in high-demand areas, to meet the needs of the citizens, according to the report.

“The ministry has completed an inventory of commercial, administrative and investment shops, for the first and second phases in the social housing project in the new cities and governorates,” Minister of Housing Mostafa Madbouly was quoted as saying in the report.

“Following the inventory, these shops will be put up for auction, and we will take advantage of their profits for the benefit of the Social Housing Fund, and build new units, as well as provide the required services.”

Madbouly added the ministry is working on allocating housing units to the beneficiaries of the former national project. These units will be announced as soon as possible after the proposal is submitted to the cabinet.
 




Tags: | Egypt | housing units |

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