Social Housing and Mortgage Finance Fund (SHMFF) plans to launch projects in partnership with the private sector in early 2022, as part of the state’s plan to involve the sector in the development process, Invest-Gate reports.
Head of Social Housing and Mortgage Finance Fund (SHMFF) Mai Abdel Hamid states that it is planned to offer 25,000 housing units embracing green architecture methods, in about five cities, most notably New Aswan and New Minya, after studying the environmental impact and techniques involved. SHMFF has announced the implementation of 1,000 units in Housing for All Egyptians project using green architecture in Badr City.
Additionally, Abdel Hamid clarifies that 265,000 customers have already applied to the offered units of the program across several cities; in addition to another 57,000 applicants of “Housing for All Egyptians 2” project. She further adds that such units are ready- for-delivery and are part of President Sisi’s real estate 3% financing initiative.
She also confirms that the SHMFF has delivered 688,000 housing units inhabited by about 2mn individuals, as these units have been financed by about EGP 40.5 bn from banks, and EGP 6.3 bn from the fund.