The Central Agency for Public Mobilization and statistics (CAPMAS) issued a report on Egyptian real estate revealing that 1.2 million residential units have been completed in total in five years in both public and private housing projects, reported Ahram Online.
The total investments for the 1.2 million units recorded approximately EGP 109.6 billion, according to the report. It further highlights that public expenditure in the housing sector constituted 41.7% of all expenditure with 497,000 units, while the private sector made up the remaining 58.3% with 694,000 units.
CAPMAS also reported that FY 2014/2015 recorded the highest number of completed units at 352,000, while the lowest output was recorded in 2012/2013, with 135,600 units.
Public expenditure focused mainly on affordable housing, according to the report, whereas a great number of units were built in Giza, followed by Sharqia and Cairo.
The private sector focused on building middle-income households primarily in Cairo, followed by Giza and Ismalia governorates, according to Al Shorouk News.