Madbouly reviews progress of “Housing for All Egyptians” initiative
Egypt’s Prime Minister Mostafa Madbouly on Sunday reviewed the implementation status of the “Housing for All Egyptians” presidential initiative during a meeting with several government officials.
The meeting was attended by Ahmed Kouchouk, Minister of Finance; Adnan El-Fangary, Minister of Justice; Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities; Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, and other officials.
Madbouly emphasised the initiative’s importance in providing affordable housing units to citizens across the country.
“This initiative is one of the most successful undertaken by the state during the past decade, significantly contributing to social protection efforts,” he said.
Madbouly reiterated the government’s commitment to continuing the initiative, ensuring the availability of housing units for low-income earners and youth at reasonable prices with flexible payment plans.
“President Abdel Fattah Al-Sisi has directed the acceleration of construction works within the initiative, recognizing the vital role of providing adequate housing for all citizens in achieving societal stability,” he said.
Madbouly called for regular monitoring of the progress of unit construction and service delivery to ensure the initiative’s success.
He also instructed relevant authorities to allocate necessary funding for the initiative, including their share of building violation fines, land or housing unit sales proceeds, and other revenue streams.
El-Sherbiny outlined the implementation and allocation status of housing units within the initiative, indicating that 700,000 units have been completed, with 616,000 units already allocated. He also outlined the progress of constructing 244,000 units, including 166,000 units for low-income earners, detailing the implementation status, planned delivery dates, and progress on the construction of 28,000 units targeted for the middle-income bracket.
Abdel Hamid discussed the financing status of the initiative, highlighting the revenues generated and presenting challenges and proposed solutions to expedite the completion of ongoing unit construction and ensure necessary service provision.
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