Latest news with #HousingforAllEgyptians'
Egypt Independent
01-06-2025
- Business
- Egypt Independent
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 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)
Egypt Independent
17-03-2025
- Politics
- Egypt Independent
PM inspects units of 'Housing for all Egyptians' initiative
Prime Minister Moustafa Madbouly on Saturday 15/3/2025 inspected housing units of 'Housing for All Egyptians' presidential initiative that targets low and limited-income segments, as part of his tour of the 10th of Ramadan city. The premier is accompanied by Minister of Housing, Utilities and Urban Communities Sherif Sherbiny and officials of the Housing Ministry. Madbouly inspected a 90-square-meter housing unit (social housing) in the East Andalus district of 10th of Ramadan City, which is constructed under the presidential initiative 'Housing for All Egyptians'. As many as 125 buildings are being implemented in East Andalus district of 10th of Ramadan City, within the framework of presidential initiative 'Housing for All Egyptians', with a total of 3,000 housing units, the housing minister said, adding that all the 125 buildings have been handed over with finalized facilities. Meanwhile, CEO of Social Housing and Mortgage Finance Fund Mai Abdel Hamid reviewed the implementation rate of social housing units in 10th of Ramadan City, noting that the total number of housing units up to the sixth phase stood at 81,736, of which 67,288 housing units have been implemented, and 14,448 housing units are under reconstruction. The housing minister briefed Madbouly on the project's components that has a total of 82 buildings, adding that 68 buildings are still under reconstruction.
Egypt Independent
16-03-2025
- Business
- Egypt Independent
Egypt, Mexico discuss boosting parliamentary, cultural, economic coop.
Prime Minister Mostafa Madbouly on Saturday 15/3/2025 handed over housing contracts to beneficiaries of the 'Housing for All Egyptians' initiative during a visit to 10th of Ramadan City. He was accompanied by Sherif al-Sherbiny, Minister of Housing, Utilities, and Urban Communities and a number of the ministry's officials. For her part, Mai Abdel Hamid, Chairperson of the Social Housing and Mortgage Finance Fund, said that 1.2 million housing units have been offered, with 722,000 completed, including 553,000 in new cities and 169,000 in governorates. An additional 280,000 units are under construction, including 216,000 social housing units and 64,000 green housing units. The latest phase, 'Housing for All Egyptians 5,' saw record demand, with 762,000 application booklets sold and 561,000 applications processed. Applicants will receive status updates by March 18, 2025. In 10th of Ramadan City, 81,736 social housing units have been built; with 67,288 completed and 14,448 under construction. The city has 65,136 allocated units and 67,288 available for new applicants. For middle-income housing, 1,632 units have been developed; with 1,056 completed and 576 under construction. Meanwhile, 10,740 green housing units are being built in the city's latest development phases.
CairoScene
03-03-2025
- Business
- CairoScene
Mortgage Finance Reaches USD 1.60 Billion Benefiting 617,500 Egyptians
The government has issued 19 housing announcements since June 1st, 2014, attracting 2.1 million applications. Mar 03, 2025 Mortgage finance in Egypt has reached a total of EGP 81.22 billion, benefiting 617,500 citizens through 22 banks and eight mortgage finance companies, according to the Social Housing and Mortgage Finance Fund. Direct cash subsidies to beneficiaries amounted to EGP 10.13 billion, with the average mortgage loan per client being EGP 131,500. The government has issued 19 housing announcements since June 1st, 2014, attracting 2.1 million applications. The initiative 'Housing for All Egyptians' aims to provide affordable housing for low- and middle-income citizens. Nearly one million housing units have been completed or are under construction, including 721,000 fully delivered units and 251,000 still being developed. The fifth and sixth phases of the initiative focus on constructing 54,600 green housing units in nine cities and 27,944 middle-income and investment housing units in 15 cities and governorates. The government continues to expand affordable housing options, with 78,000 housing units included in the fifth phase and over 762,000 citizens purchasing application booklets.
