CAIRO – 12 July 2020: Egypt will finish implementing 100,000 housing units during fiscal year of 2020/2021, in addition to planning to finish implementing 105,000 units in 2021/2022, according to Minister of Finance Mohamed Ma’it. The minister stressed that during the past years, 455,000 social housing units and middle-income households with a total cost of LE 65 billion have been completed. “During the next three years, 250,000 social housing units will be implemented at a cost of LE 70 billion, and 60,000 middle-income housing units at a cost of LE 30 million, with a total 310,000 new housing units.”Ma’it said that within the next three years, 765,000 housing units will be completed from the One Million Housing Initiative, at a cost of LE 165 billion. President Abdel Fatah El-Sisi inaugurated on Sunday a number of national megaprojects, including the Al-Asmarat 3 housing project in Cairo's Mokattam district, which was established to house residents of slums. The inauguration ceremonies are attended by Prime Minister Moustafa Madbouli, Parliament Speaker Ali Abdel Aal and a number of ministers.

Source: Egypt Today July 12, 2020 11:48 UTC