The Ministry of Housing, Utilities, and Urban Communities has delivered residential units in New Valley governorate to low-income citizens on Thursday as part of Egypt’s social housing project, reported Amwal Elghad.
Around one million housing units are expected to be built as part of the project to support low-income citizens, in addition to demolishing informal settlements and unlicensed buildings. The scheme costs approximately $ 20 billion and is scheduled to be finalized within five years.
A total of 500 units were delivered in New Valley, including 240 units located in the Al Dakhla area, and 240 units in Al Kharga area, according to Youm7.
The project is expected to include 200,000 new residential units that will be built each year, aiming to meet the high demand on housing, according to statements from Minister of Housing Mostafa Madbouly.
The state is expected to fund the social housing project through land sales to prominent developers who have built housing projects for high and middle-income citizens.