Deputy Minister of Housing for National Projects Khaled Abbas said that construction works in New Suez City and West Port Said to commence early next year, adding to the 27 underway new cities, Invest-Gate reports.
The ministry has implemented 350,000 social housing units up to date, while planning to bring the total of completed residences to 600,000 by mid-2020, Abbas added during a conference titled “Comprehensive Urban Development, Views from the Public and Private Sector for Investment Opportunities” held by Egyptian Junior Business Association (EJB) on November 24.
In April, the deputy minister noted that stated that the ministry is planning to establish 1.1 mn residential units during the upcoming five years.
“Across all new cities, the government currently targets all segments and this is different from what used to do in the past. Today, the housing ministry is offering excellent residential projects for low-, middle-, and upper-income segments,” he previously noted.
