Thursday 02 Jan
Prime Minister Dr. Moustafa Madbouly held a meeting on Sunday evening with Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, to follow up on the executive position of a number of projects.
Minister El-Sherbiny outlined the 'Your Home in Egypt' initiative, designed for Egyptians living abroad. This program will offer approximately 5,055 residential units and villas in popular locations such as New Alamein, the New Administrative Capital, and Sixth of October City. Bookings are expected to open in early February 2025. The minister detailed the program's terms, incentives, and flexible payment options.
Furthermore, Engineer El-Sherbiny
discussed the 'Housing for All Egyptians 5' initiative, which aims to provide
78,730 affordable housing units for low and middle-income residents. He
highlighted that 23,958 units are currently available, while 41,782 units will
be completed within three years. A significant number of individuals have shown
interest, with 738,000 brochures purchased and 499,000 earnest money deposits
paid.
The Minister provided an update
on the progress of several key national projects. In New Alamein City, he
highlighted the advancement of the beachfront towers, the downtown area and its
expansion, the Latin Quarter, the heritage city, and various housing
initiatives, including projects for distinguished housing, 'Housing for All
Egyptians,' and Sakan Misr.
The Minister of Housing further
elaborated on the North Coast Marina project, emphasizing its investment
potential. He outlined opportunities for developing villas and chalets within
the Alamein Tourist Marina Center, as well as investment prospects for tourism,
hospitality, commercial, and service projects on available land plots. The
minister highlighted the significant advantages of this promising region for
investors.
The meeting also included a
review of potential development sites along the northwestern coast. In the New
Administrative Capital, the minister discussed the progress of the central
business district, the green river, and residential neighborhoods. He also
addressed the advancement of infrastructure, utilities, road networks, and
overall site landscaping.
Furthermore, the minister provided an update on the Grand Epiphany project in Saint Catherine City, which he planned to inspect later that day. He also reviewed the progress of Cairo's downtown revitalization projects, including the Maspero Triangle, the Sour Magra El-Eyoun area, the Azbakeya Historical Garden, the four phases of the Ahl Masr promenade, and the Fustat Gardens project, detailing the completion rates of each component.
