‘Real Estate Investment’ to Join Social Housing Through Investment Companies, Sixth of October City

Monday, 6th February 2017

Minister of Housing, Utilities and Urban Communities Mostafa Madbouly held a meeting with the  Chamber of Commerce’s Real Estate Investment department to discuss their involvement in Sixth of October City’s Social Housing project, Invest-Gate reports.

The lands that have been promised to investors in Sixth of October City will be included in the social housing project by a presidential decree, Madbouly announced in the meeting.

According to a statement, cabinet had previously agreed to allocate 50 acres and a maximum of 100 acres for each developer to build their average housing project. This would be on a condition to construct social housing units with full finishing following the same specifications currently provided by the Ministry of Housing, Utilities and Urban Communities, on an area representing 30% of space assigned for the average housing project.

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