Gov’t Announces EGP 10 bn Housing Plan for FY2017-18

Wednesday, 5th July 2017

The government unveils its housing plan for FY2017-18, Invest-Gate reports.

Minister of Housing Mostafa Madbouly says that the government plans to invest EGP 10 bn during FY2017-18.

The New Cairo City Authority started to carry out a number of projects, including the development and expansion of old Ain El-Sokhna road connecting southern Cairo with Maadi for total investments worth EGP 30 mn.

Another project is the expansion of South 90 to the North 90 axis roads to be linked to the Middle Ring Road with a total cost of EGP 200 mn.

The authority plans to build a new road worth EGP 90 mn to connect New Cairo with the New Administrative Capital, Suez, and Ain El-Sokhna roads with Mohammed Najib axis. The Ministry started to offer and implement a number of fully-furnished residential units in New Cairo, in addition to 9,048 units in the third phase of Dar Misr housing project.

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