Latest news with #DecentLife
CairoScene
17-05-2025
- Business
- CairoScene
Inhabited Land in Egypt to Double to 14% as Part of 2030 Plan
As part of its long-term urban development strategy, Egypt is working to double the proportion of inhabited land to 14% by 2030, through new infrastructure and settlement projects. May 17, 2025 The Egyptian government is set to double its inhabited land area from 7% to 14% of the country's total landmass by 2030, according to a government statement issued following the weekly Cabinet meeting. The expansion falls under the state's broader goal of redistributing the population, relieving pressure on the Nile Valley and Delta, and promoting economic growth through new urban settlements. The plan involves the continued rollout of new cities, infrastructure projects, and integrated communities across the country's deserts and coastal regions. These include developments tied to national megaprojects such as the New Administrative Capital, New Alamein, and the Decent Life initiative, which is aimed at upgrading conditions in rural villages. According to the Cabinet, the urban expansion is part of Egypt's national strategy for sustainable development, which seeks to balance population growth with land use and improve living conditions across governorates. The government highlighted that new road networks, water supply systems, and social services are being prioritised to ensure these areas are viable for long-term settlement.
Daily News Egypt
08-05-2025
- Business
- Daily News Egypt
FRA, Local Development Ministry, and SHMFF coordinate to expand non-banking services
In a move to expand access to non-banking financial services nationwide, the Financial Regulatory Authority (FRA) held a high-level coordination meeting with the Ministry of Local Development and the Social Housing and Mortgage Finance Fund (SHMFF). The meeting brought together FRA Chairperson Mohamed Farid, Minister of Local Development Manal Awad, and SHMFF's CEO Mai Abdel Hamid. The discussions focused on establishing collaborative frameworks to deliver FRA-regulated financial and insurance services to broader segments of the population, particularly in underserved governorates. The initiative supports Egypt's national strategy for financial inclusion and sustainable development. Participants reviewed a broad spectrum of non-banking financial tools, including mortgage finance, leasing, factoring, consumer finance, and capital market products, as well as insurance services. The aim is to leverage these tools to enhance economic resilience at the local level and protect vulnerable citizens from financial risks. Farid stressed the FRA's commitment to strengthening partnerships with government institutions to demonstrate how non-banking solutions can support development goals. 'We are working to design innovative financing, investment, and insurance services tailored to the needs of citizens in governorates across Egypt, especially in marginalized and rural communities,' he said. He highlighted the importance of integrating efforts with the Ministry of Local Development to extend financial services to villages and districts targeted by national initiatives, particularly those under the Decent Life program and local development strategies. Minister Manal Awad underscored the value of this partnership, describing it as a pivotal step toward empowering governorates with modern financial tools. 'Our goal is to foster an enabling environment where citizens can access effective financial and insurance services, raise their living standards, and create local job opportunities,' she said. Awad also stressed the need to enhance financial literacy and public awareness of available services to ensure active citizen participation in economic life. To translate the initiative into action, the parties agreed to form joint working groups comprising representatives from the FRA, the Ministry of Local Development, and the SHMFF. These teams will develop an implementation roadmap based on local priorities, aiming to ensure the broadest possible access to non-banking financial services. The collaboration is seen as a model for institutional integration, aligning efforts among key state bodies to accelerate progress toward Egypt's sustainable development goals and improve the quality of life across all governorates.
Zawya
05-05-2025
- Business
- Zawya
Beit El Watan initiative generates $10bn in sales: Egypt's minister
Egypt - Prime Minister Mostafa Madbouly met on Sunday with Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny to follow up on the progress of key projects and initiatives being implemented by the ministry across various sectors. During the meeting, Minister El-Sherbiny provided an update on the Beit El Watan initiative for expatriate Egyptians. He announced that total sales from all phases of the initiative have reached approximately $10bn, as preparations are underway for the launch of the initiative's tenth phase. The minister also noted ongoing efforts to increase the number of available land plots to meet rising demand. El-Sherbiny also reviewed the status of the Your Home in Egypt initiative, which offers residential units in multiple projects. He highlighted the high reservation rates and significant revenues collected from unit sales. Addressing the ministry's contributions to the presidential Decent Life initiative aimed at rural development, the minister reported that 1,379 out of 1,811 water and wastewater projects have been completed in targeted villages, with work progressing on the remaining projects. The meeting also covered progress on the master plan for the Pyramids area (Sphinx–Dahshur). El-Sherbiny emphasized the extensive consultations held with planning and tourism development experts to review proposals submitted by the consulting firm in charge of developing this strategic location. The minister reaffirmed the state's commitment to providing adequate housing for all segments of society as part of its broader sustainable development goals. He confirmed that implementation has begun on President Abdel Fattah El-Sisi's directive to launch 400,000 housing units catering to a wide range of income brackets, including low-, middle-, upper-middle-, and luxury-tier segments. The first phase of this rollout includes 35,088 units for middle- and upper-middle-income groups, as part of over 261,000 units planned for those segments. The five-phase rollout is expected to continue through mid-2026. Additionally, 115,000 units will soon be launched under the Housing for All Egyptians initiative, targeting low- and middle-income citizens in several new urban communities. El-Sherbiny also discussed the ministry's strategy to market its housing units through private-sector real estate companies. Currently, 65 projects comprising around 75,500 units are being promoted. Turning to the Al-Fustat Gardens project, the minister reviewed the status of its key components. The investment area within the garden spans approximately 140,000 square meters and includes 12 restaurant buildings, four commercial malls, five fountains, a theater, a celebration square, landscaping, and both underground and elevated parking garages. The adventure zone covers around 99,000 square meters and features a playground, three service buildings, a children's play building, restroom facilities, and utility networks with surrounding greenery. The minister also provided updates on the project's hills landscape, which covers about 122,000 square meters and includes play areas for children, viewing and seating areas, a celebration plaza, terraced planting, and pathway lighting. He highlighted the river zone, which stretches across 131,000 square meters and will be developed in three phases. It includes riverbed leveling, insulation, utility installation, and landscape work along the riverbanks, alongside three restaurants. Finally, El-Sherbiny reviewed the market and Kasbah areas of the project. The market area will span roughly 115,000 square meters and include 13 artisan market buildings for glassware, six hotel buildings, six fountains, and landscape features. The Kasbah area, covering about 206,000 square meters, will feature four restaurant buildings, ten mixed-use commercial-residential buildings, a cinema complex, an administrative building, a multi-purpose hall, and several parking facilities.
Daily News Egypt
05-05-2025
- Business
- Daily News Egypt
Beit El Watan initiative generates $10bn in sales: Minister
Prime Minister Mostafa Madbouly met on Sunday with Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny to follow up on the progress of key projects and initiatives being implemented by the ministry across various sectors. During the meeting, Minister El-Sherbiny provided an update on the Beit El Watan initiative for expatriate Egyptians. He announced that total sales from all phases of the initiative have reached approximately $10bn, as preparations are underway for the launch of the initiative's tenth phase. The minister also noted ongoing efforts to increase the number of available land plots to meet rising demand. El-Sherbiny also reviewed the status of the Your Home in Egypt initiative, which offers residential units in multiple projects. He highlighted the high reservation rates and significant revenues collected from unit sales. Addressing the ministry's contributions to the presidential Decent Life initiative aimed at rural development, the minister reported that 1,379 out of 1,811 water and wastewater projects have been completed in targeted villages, with work progressing on the remaining projects. The meeting also covered progress on the master plan for the Pyramids area (Sphinx–Dahshur). El-Sherbiny emphasized the extensive consultations held with planning and tourism development experts to review proposals submitted by the consulting firm in charge of developing this strategic location. The minister reaffirmed the state's commitment to providing adequate housing for all segments of society as part of its broader sustainable development goals. He confirmed that implementation has begun on President Abdel Fattah El-Sisi's directive to launch 400,000 housing units catering to a wide range of income brackets, including low-, middle-, upper-middle-, and luxury-tier segments. The first phase of this rollout includes 35,088 units for middle- and upper-middle-income groups, as part of over 261,000 units planned for those segments. The five-phase rollout is expected to continue through mid-2026. Additionally, 115,000 units will soon be launched under the Housing for All Egyptians initiative, targeting low- and middle-income citizens in several new urban communities. El-Sherbiny also discussed the ministry's strategy to market its housing units through private-sector real estate companies. Currently, 65 projects comprising around 75,500 units are being promoted. Turning to the Al-Fustat Gardens project, the minister reviewed the status of its key components. The investment area within the garden spans approximately 140,000 square meters and includes 12 restaurant buildings, four commercial malls, five fountains, a theater, a celebration square, landscaping, and both underground and elevated parking garages. The adventure zone covers around 99,000 square meters and features a playground, three service buildings, a children's play building, restroom facilities, and utility networks with surrounding greenery. The minister also provided updates on the project's hills landscape, which covers about 122,000 square meters and includes play areas for children, viewing and seating areas, a celebration plaza, terraced planting, and pathway lighting. He highlighted the river zone, which stretches across 131,000 square meters and will be developed in three phases. It includes riverbed leveling, insulation, utility installation, and landscape work along the riverbanks, alongside three restaurants. Finally, El-Sherbiny reviewed the market and Kasbah areas of the project. The market area will span roughly 115,000 square meters and include 13 artisan market buildings for glassware, six hotel buildings, six fountains, and landscape features. The Kasbah area, covering about 206,000 square meters, will feature four restaurant buildings, ten mixed-use commercial-residential buildings, a cinema complex, an administrative building, a multi-purpose hall, and several parking facilities.
See - Sada Elbalad
04-05-2025
- Business
- See - Sada Elbalad
"Beit Al-Watan" Real Estate Initiative Attracts $10 Billion from Egyptian Expatriates
Taarek Refaat The Minister of Housing Sherif El-Sherbiny said that total sales from the "Beit Al Watan" initiative's phases have reached approximately $10 billion to date. This came during a meeting on Sunday with Prime Minister Mostafa Madbouly. The minster also discussed the procedures for launching the tenth phase of the the "Beit Al Watan" initiative for Egyptian workers abroad initiative and the steps taken to increase the number of land plots to meet citizens' needs and the growing demand for housing. El-Sherbiny highlighted the status of projects implemented and being implemented by the Ministry of Housing within the framework of the "Decent Life" presidential initiative to develop the Egyptian countryside, particularly with regard to the construction of water and sanitation stations and networks in the various targeted villages. He explained that 1,379 projects out of a total of 1,811 have been completed, and work is underway on the remaining projects. The Minister also reviewed the implementation measures related to the master plan for the Pyramids area (Sphinx-Dahshur), and the meetings held with a number of experts in planning and tourism development to review the studies submitted by the consulting office for the development of this promising area. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
