The Social Housing and Mortgage Finance Fund announced the sale of 75 commercial shops within the Social Housing Project in Kafr El Sheikh Governorate through a public auction, held in cooperation with the Construction and Contracting Sector at the Ministry of Housing, Utilities, and Urban Communities, headed by Eng. Amr Mohamed Abdelhady, First Undersecretary of the Ministry and Head of the Construction and Contracting Sector. The auction took place at the VIP Hall in Sanaa Garden in Kafr El Sheikh City.
Supporting Integrated Communities
Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, stated that offering these commercial shops is part of the Fund’s commitment to providing all essential services near the housing units developed under the presidential Housing for All Egyptians initiative. She emphasized that this approach supports the development of integrated urban communities that meet residents’ daily needs.
99% of Offered Shops Sold
The CEO explained that the auction resulted in the sale of 75 out of the 76 commercial shops offered, achieving a sales rate of approximately 99%.
She added that the Tahya Misr area recorded the highest average selling price per square meter, with all 31 shops offered in the area successfully sold. In Borg El Burullus, all 30 shops offered were also sold, while in Qallin, 14 out of the 15 shops offered were successfully sold.
Expanding Commercial and Service Facilities
Mai Abdel Hamid reaffirmed that the Fund will continue offering commercial and administrative units across various social housing developments to ensure the availability of comprehensive services for residents relocating to these communities.
She also noted that a total of 14,576 service facilities have been completed across the Fund’s projects, including schools, hospitals, healthcare centers, sports facilities, and other essential public services.