Latest news with #HousingforAllEgyptians
Middle East
3 days ago
- Business
- Middle East
OPEN// Marine ambulance service inauguration among PM's key activities this week
CAIRO, May 30 (MENA) - The cabinet's media center published Friday infographics on social media, highlighting the key activities of Prime Minister Dr. Mostafa Madbouly during the current week. The premier's busy agenda included meetings, visits, tours, and inaugurations of national projects. The infographics showcased the prime minister's participation in the celebration of the 123rd anniversary of the launch of ambulance service in Egypt, during which he announced the inauguration of maritime ambulance service for the first time. It was noted that there has been significant recent attention given to the ambulance system, culminating in the signing of the largest deal for ambulance vehicles with 1,000 units in a single batch. He also conducted an inspection tour to follow up on the implementation status of several housing and utilities projects in the cities of 6th of October, Sheikh Zayed, and New October and handed over housing contracts as part of the presidential initiative "Housing for All Egyptians" in New October. The prime minister participated in the opening session of the 2025 US-Egypt Policy Leaders Forum, noting that more than 1,800 American companies operate in Egypt, with total investments exceeding $47 billion over the past two decades. Madbouly also met with the Vice President of ExxonMobil for Exploration Affairs to review the status of the "Cairo" and "Masry" natural gas concession areas in the Mediterranean, directing that procedures be facilitated to accelerate drilling operations. In a meeting with the Awqaf minister, several work files were reviewed. The premier directed a comprehensive, digitized inventory of the Awqaf Authority's properties. The meeting also addressed the results of the 'Return of the Kuttab' initiative, the launch of the 'Electronic Endowments Platform,' and the progress of the 'Correct Your Concepts' initiative. The prime minister also reviewed the progress of the subsidy system and its governance measures, including the issuance of a unified card to around 42,000 beneficiaries out of 171,000 subsidy cardholders in Port Said. He met with the head of the Suez Canal Economic Zone (SCZone) to review recently contracted projects. These included a $17 million investment by China's Hightex Company and a $60 million investment by China's Kinlead Innovative Materials Company, in addition to the signing of four commercial contracts to export ductile pipes for major international projects in several Arab countries, totaling $47 million. The prime minister also received a delegation from Samsung, headed by the CFO of the company's Middle East regional headquarters. It was noted that Samsung's factory in Beni Suef is its first in the Middle East and Africa, with an annual production capacity of 6 million units and $700 million in investments. He attended the 120th anniversary celebration of the founding of the Heliopolis Company for Housing and Development and inaugurated the renovation and development works at the Granada Palace. He also witnessed the signing of a partnership between the Holding Company for Pharmaceuticals and the American company "Dawah Pharma" to manufacture and export pharmaceuticals and dietary supplements to global markets. The partnership includes plans to expand the holding company's exports and enter the US market for the first time. The infographics also included a meeting to review proposals aimed at reducing debt as a percentage of the gross domestic product. The premier emphasized continued efforts to boost the country's foreign currency reserves from various sources. Finally, the prime minister inaugurated the new headquarters of the Consumer Protection Agency in New Cairo. His activities also included an inspection tour of several ongoing projects in the Capital Gardens City. (MENA) Y R E/R G E
Middle East
4 days ago
- Business
- Middle East
OPEN// Marine ambulance service inaugration among key Cabinet activites this weekhe Prime Minister this week."
CAIRO, May 30 (MENA) - The cabinet's media center published Friday infographics on social media, highlighting the key activities of Prime Minister Dr. Mostafa Madbouly during the current week. The premier's busy agenda included meetings, visits, tours, and inaugurations of national projects. The infographics showcased the prime minister's participation in the celebration of the 123rd anniversary of the launch of ambulance service in Egypt, during which he announced the inauguration of maritime ambulance service for the first time. It was noted that there has been significant recent attention given to the ambulance system, culminating in the signing of the largest deal for ambulance vehicles with 1,000 units in a single batch. He also conducted an inspection tour to follow up on the implementation status of several housing and utilities projects in the cities of 6th of October, Sheikh Zayed, and New October and handed over housing contracts as part of the presidential initiative "Housing for All Egyptians" in New October. The prime minister participated in the opening session of the 2025 US-Egypt Policy Leaders Forum, noting that more than 1,800 American companies operate in Egypt, with total investments exceeding $47 billion over the past two decades. Madbouly also met with the Vice President of ExxonMobil for Exploration Affairs to review the status of the "Cairo" and "Masry" natural gas concession areas in the Mediterranean, directing that procedures be facilitated to accelerate drilling operations. In a meeting with the Awqaf minister, several work files were reviewed. The premier directed a comprehensive, digitized inventory of the Awqaf Authority's properties. The meeting also addressed the results of the 'Return of the Kuttab' initiative, the launch of the 'Electronic Endowments Platform,' and the progress of the 'Correct Your Concepts' initiative. The prime minister also reviewed the progress of the subsidy system and its governance measures, including the issuance of a unified card to around 42,000 beneficiaries out of 171,000 subsidy cardholders in Port Said. He met with the head of the Suez Canal Economic Zone (SCZone) to review recently contracted projects. These included a $17 million investment by China's Hightex Company and a $60 million investment by China's Kinlead Innovative Materials Company, in addition to the signing of four commercial contracts to export ductile pipes for major international projects in several Arab countries, totaling $47 million. The prime minister also received a delegation from Samsung, headed by the CFO of the company's Middle East regional headquarters. It was noted that Samsung's factory in Beni Suef is its first in the Middle East and Africa, with an annual production capacity of 6 million units and $700 million in investments. He attended the 120th anniversary celebration of the founding of the Heliopolis Company for Housing and Development and inaugurated the renovation and development works at the Granada Palace. He also witnessed the signing of a partnership between the Holding Company for Pharmaceuticals and the American company "Dawah Pharma" to manufacture and export pharmaceuticals and dietary supplements to global markets. The partnership includes plans to expand the holding company's exports and enter the US market for the first time. The infographics also included a meeting to review proposals aimed at reducing debt as a percentage of the gross domestic product. The premier emphasized continued efforts to boost the country's foreign currency reserves from various sources. Finally, the prime minister inaugurated the new headquarters of the Consumer Protection Agency in New Cairo. His activities also included an inspection tour of several ongoing projects in the Capital Gardens City. (MENA) Y R E/R G E
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.
Al-Ahram Weekly
16-04-2025
- Business
- Al-Ahram Weekly
Explainer: All you need to know about key targets of Egypt FY2025/26 budget - Economy
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat outlined, during her speech before the House of Representatives, the key targets of the upcoming fiscal year's (FY2025/2026) budget plan, which will roll out on 1 July 2025. The plan focuses on transformative investments in the electricity and renewable energy sectors, urban development, and essential water and sanitation services, aiming to boost the nation's infrastructure and improve its citizens' quality of life. FY25/26 budget highlights Investment and Economic Goals: EGP 13 billion for the Information and Communications Technology (ICT) sector. $8.5 billion in annual digital exports, including $6 billion from outsourcing services. Infrastructure and Development Initiatives: Development of 200 postal offices into integrated service centres. Increasing the percentage of internet users engaging in government transactions to 31 percent. Coverage of innovation centres to expand to 60 percent of governorates. Expansion of mobile network towers to approximately 40,000. ICT's strategic importance Minister Al-Mashat emphasized that the ICT sector is a key driver of sustainable development, investment, and job creation, with growth rates exceeding 15 percent annually. The sector's role in facilitating access to modern technologies, big data, cloud computing, and artificial intelligence is crucial for bridging the digital divide. Key Projects and Programmes: Comprehensive programmes to upgrade telecommunications infrastructure and enhance cybersecurity. Automation of public service systems, including health insurance and property taxation. Digital upskilling initiatives like the Digital Egypt Builders and Cubs programmes. Investments: EGP 100 billion for the electricity and renewable energy sector. EGP 77 billion for the water and wastewater sector. Renewable Energy: Expected increase in renewable energy share to 16 percent, up from the current 11.5 percent. Targeted increase in average annual electricity generation to 235 billion kWh, up from 223 billion kWh. Target of reducing energy losses to 13 percent, down from 19.4 percent. Housing Development: The ministry targets launching 310,000 new housing units, including the following: 285,000 units for social housing. 11,500 units for middle-income housing. 13,500 units under the Housing for All Egyptians programme. Water and Sanitation: The ministry targets EGP 77 billion in public investments for water and sanitation: EGP 27.8 billion for drinking water. EGP 49.2 billion for sanitation. It also plans to complete 56 water stations with a total capacity of 1 million m³: 135 sanitation projects. 33 treatment plants with a capacity of 802,000 m³. 17 desalination plants with a capacity of 455,000 m³. Urban Development: Committed to establishing over 20 new urban complexes. Focused on developing infrastructure in rural areas and addressing informal settlements. Follow us on: Facebook Instagram Whatsapp Short link:
