FILE – Flat-building in Egypt’s Sadat City – Wikimedia Commons
CAIRO – 26 June 2024: A total of one million residential units are currently under construction for low-income citizens, along with 28,000 units designated for middle-income citizens, announced Mai Abdel Hamid, Chairwoman of the Social Housing and Real Estate Financing Fund.
Additionally, 55,500 units are part of the green housing initiative at various cities such as New Obour, 10th of Ramadan, and New Aswan, among others. The fund has received 1.6 million applications for these units, with a total funding of LE70 billion.
The funding recipients are predominantly male (76%), with 24% being female. Among them, 48% work in the private sector, 29% in the public sector, 22% are self-employed, and 1% are pensioners. The demographic also includes married individuals with kids (56%), married individuals without kids (16%), singles (22%), divorced (4%), and widowed (2%).