CEO of Social Housing and Mortgage Finance Fund (SHMFF) Mai Abdel Hamid said that a total of 360 units have been finalized, while work is still in progress on 32,863 units in seven governorates cross country, Invest-Gate reports.
Abdel Hamid added that the governorates are Luxor, Aswan, Qena, Port Said, Beheira, Giza, and Kafr El Sheikh, according to a ministerial statement on December 25.
This came during a meeting headed by Minister of Housing, Utilities, and Urban Communities Assem El Gazzar, wherein he gave directives to work on finishing all utilities and units in parallel in order to meet the set delivery dates, while he stressed that service building should be well-distributed among all social housing projects in new cities relative.
The minister also asked the officials to submit weekly reports on the implementation progress of the 800-acre neighborhood in October Gardens, in addition to regular reports on completion rates of Badr City’s residential units, the statement added.
The fund’s executive vice president Salah Hassan added that work is still going on 214,740 units in another six cities, namely New Minya, Sadat City, New October, October Gardens, New Fayoum, and Badr City.