A delegation from the World Bank follows up on Egypt’s social housing project, which it finances, with a closer look on that of 10th of Ramadan City, Inves-Gate reports.
The delegation along with government representatives including Mai Abdel Hamid, the head of the Mortgage Finance Fund, and representative from the New Urban Communities Authority (NUCA) among others have visited 10th of Ramadan City, Invest-Gate reports.
During their visit, World Bank’s representatives from Middle East and North Africa were updated on the number of executed residential units in the city, amounting to a total of 41,000 houses constructed at a total investment cost of EGP 4.6 bn, according to a released statement by NUCA.
Abdel Hamid points out the challenges that occurred amid the construction period, including the availability of lands, the construction facilities, the finance plan, and the recent economic changes that affected the prices of construction materials.
She also confirms the installation of several solar heaters in some of the cities located in Upper Egypt. LED lighting system has also been installed on the roads within the cities as well, the statement reads.
The bank’s delegation has praised the efforts exerted in the project, asserting that the average 90 square-meter units are very affordable and practical in size compared to those of international floor plan standards that only reach 60 square meters.
The first phase of the social housing project in 10th of Ramadan City is expected to include 1,196 residential buildings that will contain a total of 23,920 units. “The second phase of the project will include 867 residential buildings, containing 17,340 units,” Head of the City’s Authority Adel El Nagar says.