News / Government

Gov’t Completes 3,744 Social Housing Units in New Qena

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 3,744 social housing units are completed in New Qena, while 864 units are under construction.

Housing Ministry Finalizes Sorting of Applicants for Social Housing Units

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has revealed that the initial sorting of applications from citizens for the tenth announcement of units provided through the state's social housing program has been finalized.

ITDA Awards Construction of 6 Logistic, Commercial Zones

The Internal Trade Development Authority (ITDA) has awarded contracts to some Egyptian and foreign investors to develop six logistics and commercial zones in six different governorates, with combined investments worth EGP 30 bn.

El Gazzar Holds Meeting to Discuss New Mechanisms for Social Housing

Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with a delegation from the World Bank (WB) and Egyptian real estate developers to discuss new mechanisms to involve the latter in the implementation of social housing projects.

Gov’t Officials Agree to Raise Mortgages by EGP 40 bn

Mortgage Finance Fund's (MFF) board of directors have signed a cooperation protocol with the finance ministry to raise the value of mortgages provided to low-income citizens by an additional EGP 40 bn, bringing the total funding to up to EGP 60 bn.

Housing Minister Checks Out New Alamein for Latest Updates

The first phase of New Alamein’s seven-kilometer corniche is 85% completed, while construction works have already begun on 12,000 housing units in the new city's Latin Quarter.

Housing Ministry, Developers Will Soon Meet to Review Real Estate Development Bill

Egyptian real estate developers and the Ministry of Housing will meet by March-end to discuss the draft law of real estate development bill, which stipulates the establishment of a federation for property developers and set up a fund to hedge against sector-related risks.

Egypt’s Urban Inflation Rises to 14.4% in February

The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported that the annual headline inflation rate reached 14.4% in February 2019, compared to 12.7% in the prior month.

Deputy Minister Talks to Foreign Media on MIPIM Sidelines

Khaled Abbas, deputy minister of housing for national projects, said real estate investment in Egypt is one of the promising sectors, while referring to the new cities being implemented by the state, including the New Administrative Capital (NAC), New Alamein, New Mansoura, El Galala City, amongst others.

Sadat City to Boast 50-Acre Tourism Project

The New Urban Communities Authority’s (NUCA) board has approved the allocation of a 50-acre plot in Sadat City to Egypt's tourism investment company Cairo Grand Park for the establishment a new tourism project.

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