Deputy Minister of Housing for National Projects Khaled Abbas said that Egypt’s strategic plan targets increasing its urban areas to 12%, adding that the government is planning to develop all cities across the country, Invest-Gate reports.
Abbas added that there is a big demand for development projects in New Cairo, however, Upper Egypt cities are not yet recognized by investors, he said during a seminar organized by the Egyptian Businessmen’s Association (EBA) on February 13.
“We are selling land plots in Upper Egypt cities with total areas of 50 acres, which are not enough for urban development transformation, therefore, there must be awareness among investors to bet on these cities ,” Abbas stated, adding, “We have wonderful cities in Upper Egypt such as New Aswan, which is provided with all facilities and services.”
“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,” the deputy minister elaborated.
