Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, announced that the total number of housing units allocated for low-income citizens under the presidential initiative “Housing for All Egyptians” has reached 1,038,620 units. Out of this total, 764,000 units have been fully completed, while 238,000 units are currently under construction, in addition to 36,500 new units that have been recently launched for implementation.
She also highlighted that the total number of housing units allocated for middle-income citizens amounts to 32,000 units, of which 22,000 units have already been handed over to beneficiaries. Abdel Hamid added that the Fund has constructed 59,550 green housing units to promote sustainability and inclusivity within new urban communities.
Furthermore, she revealed that the total number of beneficiaries from the presidential initiative has reached 671,000 individuals, with total mortgage financing amounting to EGP 101 billion, provided through 22 banks and 8 mortgage finance companies. Additionally, EGP 10.3 billion has been disbursed in direct cash support to eligible citizens.
Abdel Hamid also provided an overview of the latest offering, “Housing for All Egyptians 7”, noting that the number of applicants reached 170,000 citizens, compared to 113,000 units available under the specific eligibility and allocation criteria.
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