Wadi Degla Holding, an Egyptian real estate developer, is in discussions with the Ministry of Housing over 2,500 acres for new housing projects through the public-private partnership (PPP) system, Wadi Degla’s Chairman Maged Helmy told Amwal Al Ghad.
Wadi Degla is working to increase its land portfolio, which is currently registered at 6.5 million square meters, Helmy added.
Recently, partnerships have been erected between real estate companies and private property developers to implement projects on state-owned lands.
“Partnerships between the government and real estate developers are a sustainable pairing for the real estate sector,” Helmy elaborated to Daily News Egypt, adding that public corporations should offer land holdings to the private sector to form ownership partnerships, as public corporations do not have the capacity needed to develop these lands.
Wadi Degla is currently developing two new projects, one in the Fifth Settlement and a second in Ain Soukhna. The former will cover an area of 139,000 square meters and host 995 residential units and the latter would include 1,500 residential units.