Egypt's Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny announced the country's largest-ever residential offering, with a total of nearly 400,000 new housing units set to be launched under the directives of President Abdel Fattah El-Sisi. During a press conference on Thursday, Minister El-Sherbiny outlined the ambitious plan aimed at providing affordable housing for citizens across various income groups, in line with Egypt's broader vision to ensure adequate and secure living conditions for all Egyptians. The initiative will see the release of 115,000 units under the presidential initiative, Sakan Kol El Masryeen (Housing for All Egyptians). These units will cater to both low- and middle-income families, and will be offered through the Social Housing Fund. Applications for middle-income housing will open on May 15, while low-income housing applications will start on July 1. In addition, 261,253 units will be made available through the Housing and Development Bank (HDB), with various phases of the offering scheduled between April 2025 and April 2026. Prices will range from 10,000 to 35,000 Egyptian pounds per square metre, depending on the housing type, finishing, and location. Minister El-Sherbiny emphasised that the Egyptian real estate sector has flourished under President El-Sisi's leadership, with the Ministry focusing on further developing the sector through digital transformation efforts. Egypt Real Estate Platform will enable better access to housing offers, benefiting both the public and private sectors. The minister also announced the launch of two major new housing projects: Diarna and Zilal, which will deliver 100,000 new units across multiple new cities. The Diarna project will offer 60,000 units in 23 cities, while the Zilal project will provide 40,000 luxury units in 17 cities. These projects aim to cater to diverse community needs, from middle-income to luxury housing. In collaboration with the Future Egypt Development Authority, the Ministry will also establish a joint venture to provide integrated management services for these projects, ensuring that all residents benefit from high-quality infrastructure and services. Minister El-Sherbiny concluded by reaffirming the government's commitment to achieving sustainable urban development and providing affordable housing options to Egyptians, thus fostering social justice and improving the standard of living for the nation's growing population. The Ministry of Housing launched earlier the official government platform for Egypt's real estate market (www.realestate.gov.eg), which aims to centralise the real estate market, improve transparency, and facilitate the export of Egyptian property on the global stage. Attribution: Amwal Al Ghad English
