Engineer Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities, is set to announce today the details of offering 400,000 housing units, following the directives of President Abdel Fattah El-Sisi.
The announcement will be made during a press conference held by the minister today, Thursday, at the headquarters of the Ministry of Housing in the New Administrative Capital. The offering is expected to include 400,000 housing units targeting various segments of society, in line with President El-Sisi’s directives.
As part of the preparations, Engineer Sherif El-Sherbiny held a meeting with Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Support Fund, in the presence of representatives from the ministry and the New Urban Communities Authority.
At the beginning of the meeting, Engineer Sherif El-Sherbiny emphasized the directives of President Abdel Fattah El-Sisi to launch the comprehensive offering of housing units, which includes approximately 400,000 units allocated for low– and middle-income groups, as well as upper-middle and luxury housing. He stressed the importance of completing all necessary procedures for the offering.
During the meeting, Mai Abdel Hamid reviewed the financial status of housing projects under the “Housing for All Egyptians” initiative, including financial flows, revenues, expenditures, and direct financial support for citizens. Minister of Housing Sherif El-Sherbiny also met with Hassan Ghanem, Chairman of the Housing and Development Bank, to discuss cooperation between the ministry and the bank.
During the meeting, the Minister of Housing outlined the ministry’s vision regarding the new offerings of housing units, calling for thorough preparations to avoid previous challenges in the booking process and to enhance public trust. Hassan Ghanem praised the planned offering of 400,000 housing units and presented the bank’s plans to improve its performance in meeting the needs of the New Urban Communities Authority and customers. He also highlighted the importance of diversifying the methods of housing unit offerings and real estate investment opportunities.
