Engineer Sherif El-Sherbini, Minister of Housing, Utilities, and Urban Communities, chaired a meeting of the Board of Directors of the Social Housing and Mortgage Finance Support Fund to review the progress of implementing housing units designated for low- and middle-income citizens under the presidential initiative “Housing for All Egyptians,” launched by President Abdel Fattah El-Sisi. During the meeting, performance indicators of the Fund were presented alongside the final accounts for the fiscal year 2024/2025.
Discussions covered the implementation of approximately 1,064,828 housing units for low- and middle-income citizens, including green housing projects as part of the presidential initiative. Out of this total, 757,155 units have already been completed, while about 247,345 units are currently under construction. The meeting also touched on the progress of delivering units to citizens, in addition to housing projects planned for the upcoming phase.
On another note, Mai Abdel-Hamid, CEO of the Social Housing and Mortgage Finance Support Fund, gave a presentation on the financial aspects of the “Housing for All Egyptians” initiative. She explained that since the first announcement of the initiative in June 2014 until now, 20 rounds of announcements have been made. The total volume of mortgage financing provided to beneficiaries reached around EGP 87.7 billion, distributed across 22 banks and 8 companies, with EGP 10.32 billion in direct cash support granted.
The meeting also reviewed updates on the seventh announcement of the initiative. Around 158,000 applicants have applied for units under construction, while 5,205 applicants requested ready-to-move-in units, which will be delivered within the same announcement.
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