Engineer Sherif El-Sherbini, Minister of Housing, Utilities, and Urban Communities, handed over a number of housing unit contracts to beneficiaries of the 10th and 14th announcements within the presidential initiative Housing for All Egyptians in New Obour City.
The event was attended by Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, along with several officials from the Ministry, the New Urban Communities Authority, and the head of the New Obour City Authority.
In his remarks, El-Sherbini stressed that the Housing for All Egyptians initiative aims to meet the needs of low- and middle-income citizens by providing suitable housing units. He explained that the Ministry’s policy is based on three main pillars: providing luxury units at real market prices for high-income groups, offering suitable units for middle-income households, and supporting low-income groups with subsidized units, whether within existing urban areas or in new cities.
For her part, Mai Abdel Hamid stated that the total number of units within the project has reached 1,064,828 units, of which 754,755 have been completed, while 247,345 units are still under construction, in addition to 62,728 new units currently being launched.
She added that the number of low-income beneficiaries has so far reached 640,500, supported through 22 banks and 8 mortgage finance companies, with total financing amounting to EGP 87.1 billion, alongside EGP 10.3 billion in direct subsidies. Regarding the middle-income category within the initiative, the number of beneficiaries has reached 10,433 with total mortgage financing worth EGP 3.5 billion.
Concerning the Housing for All Egyptians units in New Obour City, Abdel Hamid indicated that the city includes around 88,536 units. Out of these, 59,556 have been completed, while 28,980 additional units are still under construction, covering both social housing and green housing. She further confirmed that 2,379 units of 90 square meters each were allocated under the 14th announcement (Housing for All Egyptians 1), while a total of 7,149 units have been allocated so far. Under the 7th announcement of Housing for All Egyptians, green housing units were launched, with 3,670 applicants in the city.
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