Saudi businessman and investor Waleed bin Talal announces the completion of his charitable project Sotra (Shelter), including 1,000 out of 10,000 housing units, which will be offered soon to needy Egyptian families, Invest-Gate reports.

The Sotra Project was launched by the Saudi investor and Egypt’s non-profit organization Misr El-Kheir to offer better housing units for Egyptian families living in slums.

The project, which is also run by the ministries of social solidarity, trade and industry, housing, and urban development, is seeking to provide 1,000 housing units for beneficiaries nationwide every year.

The project has started in a number of Upper Egyptian cities, including Minya, Sohag and Beni Sueif and it will last for 10 years.