Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Support Fund, explained that the demand for social housing units exceeds the available supply by many times due to the wide range of services provided in the new cities, which make them an attractive choice for living.
During her appearance on the TV program Al Hekaya with journalist Amr Adib, Abdel Hamid expressed her pride in taking part in the project over the past ten years, confirming that around 3.5 million citizens have moved to the new cities during this period.
She also mentioned that the price of a social housing unit is EGP 850,000, with government subsidies helping ease the financial burden for citizens seeking suitable housing.
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