The government launches 16,900 social housing units worth EGP 2.3 bn in nine new cities, Invest-Gate reports.
Minister of Housing Mostafa Madbouly announces the launch during a visit he paid to the Nile Delta governorate of Damietta on Tuesday, May 23, accompanying President Abdel Fattah El Sisi. During the visit, the President has inaugurated a host of developmental projects in the city.
Madbouli says that the newly-inaugurated homes are located in the cities of 10th of Ramadan, New Beni Sueif, New Assiut, New Aswan, Obour, Badr, El-Shorouk, Borg El-Arab, and New Nubira.
In recent months, Madbouli says that the Housing Ministry has also finalized 220,000 units out of a total of 500,000 units worth EGP 30 bn. Additionally, 280,000 homes worth EGP 42 bn are also being built, according to a released statement.