Minister of Housing, Utilities and Urban Communities, Assem El Gazzar, reveals that total investment made in October Gardens has reached EGP 2.75 bn during 2021, Invest-Gate reports.
The minister confirms that Rawdat October is the first stage of alternative housing for slum areas has been completed and it includes 2,496 fully finished housing units in 104 buildings.
Mohamed Mostafa, head of the October Gardens Development Authority, states that 18,636 housing units have been delivered as part of the presidential initiative “Housing for All Egyptians” in 2021, representing 15% of the planned units for the city’s low-income people. He further notes that 123,612 units are planned to be built divided into five stages.
Furthermore, Mostafa highlights that 207 buildings, comprising 4,940 housing units, in the Sakan Misr project for the middle-income segment have been completed, adding that 3,150 of them have been delivered in 2021.
Moreover, 228 buildings, encompassing 5,472 housing units, have been completed in the middle-income buildings next to the downtown area. 1,000 of them have been delivered to beneficiaries in 2021.
Additionally, Mostafa points out that 15 plots of various activities have been sold at a total ROI of EGP 33 mn and EGP 750,000.