Minister of Housing, Utilities, and Urban Communities Assem El Gazzar, announced that the 10th of Ramadan's El Andalus neighborhood has so far seen USD 4.4 bn (EGP 68.72 bn) worth of investments in social housing units
Social Housing and Mortgage Finance Fund (SHMFF) signed a joint cooperation protocol with the Suez Canal Authority and Banque Misr to allocate 1,200 units to the authority's workers union
Egypt's Planning and Economic Development Minister Hala El-Saeed said that the government directed investments amounting to EGP 944 mn to implement 202 projects in FY 2019/20
Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas said that the Central Bank of Egypt's (CBE) EGP 50 bn mortgage initiative will help finance around 40,000-50,000 units
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar announced a two-month extension period for applicants who applied for the residential units previously provided in a number of new cities to complete or update the required data
The Central Bank of Egypt (CBE) released a regulation doubling mortgages up to 10% of commercial banks’ lending portfolios, up from the previous 5%, Invest-Gate reports.
Deputy of Minister of Housing, Utilities, and Urban Communities for National projects Khaled Abbas said that a total of 7,056 fully-finished social housing units, out of the planned 8,064, are completed, in New Aswan city, Invest-Gate reports.
President Abdel-Fattah El-Sisi stressed the necessity of coordination between different state apparatuses to reduce public debt and inflation rates, Invest-Gate reports.
Minister of Transport Kamel El Wazir said that Egypt is holding discussions with the African Development Bank (AfDB) for a USD 1.5 bn (EGP 22.5 bn) loan to partially finance the Cairo-Aswan Road
CEO of Informal Settlement Development Fund (ISDF) Khaled Siddik said that the fund presented the government efforts to resolve the issue of slums as a priority agenda item
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