Engineer Khaled Seddik, Head of the Urban Development Fund, revealed that the Fund has become one of Egypt’s leading real estate developers after delivering around 100,000 housing units across various governorates, stressing that the primary goal is to provide suitable housing for citizens.
Seddik explained that the Fund is planning to build 500,000 new housing units to meet the growing demand for housing without focusing on commercial profit.
The Fund aims to provide units that ensure a decent life while creating an attractive environment for investment in partnership with the private sector to reduce the gap between supply and demand. He pointed out that Egypt is approaching housing sufficiency thanks to large-scale urban development projects.
In addition to housing, Seddik confirmed the Fund’s commitment to developing historic and heritage areas, praising businessman Mohamed Alabbar’s investment in Downtown Cairo. He considered this step a sign of confidence in the Egyptian economy and explained that transforming these areas into tourist destinations would enhance Egypt’s income and global standing.
The “Reviving Historic Cairo” project represents one of the major initiatives to restore the capital’s global charm by 2030 through the development of heritage buildings, infrastructure, and the establishment of tourist and service facilities that preserve historical identity and achieve sustainable development. The Fund’s efforts aim to position Egypt as a global model in urban development in the coming years.
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