Major General Engineer Walid El-Baroudi, Chairman of the General Authority for Cooperative Housing and Construction, has revealed the authority’s upcoming land and housing unit offerings.
El-Baroudi highlighted the significant difference between cooperative housing and social housing, explaining that cooperative housing relies on participation in civil society. In contrast, social housing mainly depends on state support for low-income citizens.
He confirmed that the authority will offer housing units through its projects under the mortgage financing system in collaboration with the Housing and Development Bank and aims to expand the scope of the mortgage financing initiative within its offerings.
The New Urban Communities Authority has announced the launch of a new phase of apartments in the “Louloua New Cairo” project, as well as in the cities on the 10th of Ramadan and 6th of October, through a lottery system soon. Additionally, the authority has begun implementing the “Diarna” project for middle-income housing, which includes 50,000 residential units in new cities. This initiative aligns with the political leadership’s efforts to provide suitable housing and improve citizens’ quality of life.
Engineer Mohamed Abdullah Youssef, Head of the Hadayek October City Authority, confirmed that the Diarna project consists of 119 buildings, each with a ground floor and five additional floors, totaling 3,094 housing units. The project is executed according to the highest quality and urban planning standards, featuring modern facades and luxurious finishes. The units will be delivered fully finished and connected to utilities, with special attention given to landscaping and the provision of essential services to ensure a fully integrated residential environment. This project aims to match the growing demand for housing units and support the state’s vision for urban expansion.
