Despite the global financial crisis driven by the coronavirus pandemic and the ongoing Russia-Ukraine conflict, besides the climate change impacts and the increasing population, Egypt is still working on providing citizens, especially youth, with housing units, as part of the state’s efforts to provide a decent life for all. As for the housing units for the middle-income bracket (aka Dar Misr), the number of units recorded 56,500 in the new cities, of which 4,440 units were implemented in only 2021/2022. The largest number of implemented units was in the city of New Cairo, as it reached 4,392 units or 98.9% of the total, CAPMAS added. The number of units in the Paradise of Egypt project (luxury housing) reached 27,500 units in the new cities, of which 12,072 units were implemented. The 35-year-old wife added that young people no longer have enough financial liquidity for the advance deposit of the unsubsidized apartments.

Source: Egypt Today June 23, 2023 16:33 UTC