The Minister of Housing, Utilities and Urban Communities launched the country’s biggest land tender on April 17. The draw includes 21,398 piece of land in 21 new cities, the ministry announced in a press release.
The ministry, which plans to offer 60,000 pieces of land for investment purposes, is aiming to focus the direction of investment of 11,076 pieces of land for social housing projects, while the rest will be earmarked for upscale residential projects.
The size of offered land ranges from 209 square meters to 1,500 square meters, and is distributed amongst New Cairo, 6th of October (including Sheikh Zayed), Sherouk, 10th of Ramandan, 15th of May, Obour, Sadat City, New Salheya, New Minya, New Burj Al Arab, New Suhaj, New Tiba, New Assiut, New Fayoum, New Akhmim, New Nubareya, New Aswan, New Beni Suef, and New Damietta.
In January of 2016, Egyptian President Abdel Fattah Al Sisi requested completion within the year of 145,000 thousand units of social housing for youth at a cost of EGP 20 billion. Sisi stated during his speech at the Cairo Opera House, on the occasion of Youth Day, that this step fits within a national project to construct 244,000 thousand housing units.