The total number of housing units built in Egypt in the fiscal year (FY) 2020/2021 amounted to around 336,300 with total investments of EGP 150 bn, up from 194,200 units in FY 2019/2020 with investments of EGP 79 bn, Invest-Gate reports.
The recent data was mentioned in a press release by the Central Agency for Public Mobilization and Statistics (CAPMAS) issued on the occasion of World Housing Day, which was approved by the United Nations to be on the first Monday of October every year.
Statistics show that economic housing came on top in FY 2020/2021 with 169,100 units, accounting for 50.3% of total units, while the middle class and upper middle-class housing represented 123,700 units and 17,100 units, respectively. Luxury housing made up 7.8% of total housing over the year, or 26,300 units.
In FY 2020/2021, 166,500 housing units were built by the public sector, up 96% from 85,100 units in the previous year. Economic housing came on top with 104,700 units and Cairo Governorate took the lion’s share of the project, representing 42.4% of total units, or 70,600 units.
On the other hand, 169,800 housing units were built by the private sector, up 50.5% from 109,300 units in the previous year. Economic housing came on top with 64,400 units and Cairo Governorate took the lion’s share of the project, representing 24.9% of total units, or 42,400 units.
The total housing units executed in the social housing project (One Million Units) reached 453,600, including 78,400 built in FY 2020/2021, among them 1,300 units executed by the Central Agency for Reconstruction, with investments of EGP 180 million.
The number of units completed in Janna (luxury housing) reached 15,000 units in new cities, including 9,480 units built in FY 2020/2021. The New Cairo City accounted for 86.3% of total units, or 8,184.
Moreover, the total number of units executed in the New Administrative Capital and the New Mansoura recorded 3,921 units with investments of EGP 25 mn. New units are under construction in New Alamein in FY 2020/2021 with EGP 12.6 mn investments.