Latest news with #HousingforAllEgyptians5
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.
Middle East
15-03-2025
- Business
- Middle East
OPEN// PM hands over contracts of new housing units to low, middle income families
CAIRO, March 15 (MENA) – Prime Minister Mostafa Madbouli 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 El-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. (MENA) H A T/M N E
Zawya
03-03-2025
- Business
- Zawya
Mortgage finance in Egypt reaches $1.60bln, benefiting 617,500 citizens
Egypt- Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund (SHMFF), announced that total mortgage financing in Egypt has reached approximately EGP 81.22bn, benefiting 617,500 recipients through 22 banks and eight mortgage finance companies. She noted that direct cash subsidies granted to beneficiaries amounted to EGP 10.13bn, with an average mortgage loan of EGP 131,500 per client. Since June 1, 2014, a total of 19 housing announcements have been issued, attracting applications from 2.1 million citizens. Abdel Hamid shared these updates during a meeting of the Social Housing and Mortgage Finance Fund's Board of Directors, chaired by Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities. The meeting reviewed progress on housing projects for low- and middle-income citizens under the presidential initiative Housing for All Egyptians, the status of the initiative's fifth phase, and key performance indicators. El-Sherbiny stated that nearly one million housing units for low-income citizens have been completed or are under construction as part of the initiative. Of these, 721,000 units have been fully delivered, while 251,000 are still being developed. The initiative's fifth and sixth phases include the construction of 54,600 green housing units across nine cities. Additionally, 27,944 middle-income and investment housing units are under construction in 15 cities and governorates. Providing further details on the 'Housing for All Egyptians 5' announcement, Abdel Hamid revealed that 78,000 housing units are included in this phase. She noted that approximately 762,000 citizens have purchased application booklets, with 589,000 paying the reservation deposit. Around 571,000 applicants have submitted their requests online through the fund's official website. The government's continued efforts to expand affordable housing options reflect its commitment to addressing the growing demand for homeownership while ensuring access to mortgage financing for low- and middle-income citizens.
