Dr. Mostafa Madbouly, Prime Minister, met with Eng. Sherif El Sherbini, Minister of Housing, Utilities and Urban Communities, to follow up on the implementation status of several projects, Invest-Gate reports.
El Sherbini presented the key aspects of the “Your Home in Egypt” initiative, which targets Egyptians working and residing abroad and is scheduled to open for reservations at the beginning of February 2025.
He noted that approximately 5,055 residential units and villas will be offered in cities including New Alamein, New Administrative Capital, New Mansoura, 6th of October, Sheikh Zayed, Sur Magra El Oyoun, New Cairo, New Obour, and New Suez.
He discussed the conditions and incentives that characterize this initiative, as well as the proposed payment options for the residential units and villas.
Additionally, El Sherbini addressed the housing projects component, beginning with the steps to offer 78,730 housing units for low- and middle-income individuals within the presidential initiative “Housing for All Egyptians (5).”
He pointed out that there are 23,958 units ready for delivery within the governorates, 12,990 units ready for delivery in the new cities, and 41,782 units that will be delivered within 36 months in the new cities.
He indicated that 738,000 booklets have been purchased by the end of the reservation period, with 499,000 individuals having paid the reservation deposit.
In this context, the Prime Minister praised citizens’ confidence in this important national project, which was endorsed by President Abdel Fattah El-Sisi and meets the needs of many segments of society seeking to own decent housing at a reasonable price.
He directed the implementation of 50,000 new housing units for low-income individuals and youth within the presidential initiative “Housing for All Egyptians,” in addition to the 50,000 currently being implemented.
Furthermore, he called for the construction of 50,000 new housing units for the middle-income segment, which will be offered for reservation to interested parties.