EGP 63 bn Invested in Upper Egypt Thus Far

EGP 63 bn Invested in Upper Egypt Thus Far

With Egypt’s new regime under President Abdel Fattah El Sisi, Egypt has spent EGP 63bn from 2013 till 2020 on the development of Upper Egypt, Minister of Housing, Utilities, and Urban Communities Assem El Gazzar confirms, Invest-Gate reports.

Since the start of President El-Sisi reign, the state has paid great attention to the development of Upper Egypt governorates, in line with Egypt’s urban development 2030 vision, according to an official statement on January 5.

The development projects include implementing new cities nationwide for all segments, providing investment opportunities, various job opportunities, implementing potable water, and sanitation projects to enhance the livelihood of Upper Egypt citizens.

The minister further elaborates that the total investments of EGP 63bn in Upper Egypt are distributed as follows:

EGP13.2 bn to implement 130,892 housing units

EGP389 mn to build 36,869 housing units on 94 acres for the informal development sector

EGP11.3 bn to implement 931 km of main roads and internal roads in new cities

EGP 34.5 bn to implement 271 utility projects

EGP3.6 bn to construct 412 service buildings

The development of Upper Egypt, as El Gazzar explains, is carried out over three phases. The first phase is the development of existing cities. The second phase is the implementation of various projects in eight new cities, followed by the third, which is the implementation of projects in six new cities(fourth-generation cities).


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