Abdelkhalek Ibrahim, Assistant Minister of Housing for Technical Affairs, presented an overview of “Egypt’s Vision for Housing 2030” while participating in a dialogue session held during the Cityscape exhibition, Invest-gate reports.
The session was attended by representatives of participating delegations at the exhibition, hosted by Saudi Arabia under the theme “Building the Home of the Future.”
Ibrahim explained that Egypt’s Vision 2030 includes a set of developmental dimensions, including the urban development aspect, translated into the National Strategic Urban Development Plan – Egypt 2052.
The plan was prepared over two years and is updated every five years. One of its main goals is to double the area of Egypt’s urbanized land, and the diverse development projects implemented by the Egyptian government are an application of the strategic plan’s outcomes.
Furthermore, Ibrahim emphasized that to achieve the first goal of the National Strategic Urban Development Plan, the Egyptian government has adopted an ambitious plan to establish nearly 24 new cities as part of the fourth generation of new cities.
Moreover, Ibrahim stated that the Egyptian government launched the National Housing Strategy in 2018, which includes two main axes. The first axis focuses on establishing new housing units to meet the increasing demand for housing. The second axis focuses on the development of existing urban areas and the redevelopment of unsafe informal settlements.
In conclusion, the Assistant Minister of Housing for Technical Affairs mentioned that in the upcoming phase, Egypt aims to expand the involvement of the private sector in providing housing units.
Notably, this is achieved through a series of projects conducted in partnership between the state and the private sector. The state is implementing partnership projects with 67 developers on 13,000 acres in the fourth-generation cities, with total investments reaching EGP 1.1 tn. The state’s share is EGP 311 bn, and these projects provide approximately 200,000 job opportunities.