An Egyptian initiative to develop social housing properties

The Egyptian Ministry of Housing, Utilities and Urban Communities held a meeting for social housing properties with a number of real estate developers to discuss the mechanisms of their participation in the implementation of social housing projects, thus contributing to the needs of citizens in the housing sector.

Amjad Hassanein, vice president of the Real Estate Development Chamber of the Federation of Industries, said in an interview with Al Arabiya that the Ministry of Housing’s invitation to private sector companies to participate in social and medium housing is an incentive for private companies to participate in such social housing properties .

Hassanein pointed out that the Real Estate Development Chamber has introduced an initiative in this area, which will provide greater advantages for the private sector to participate in social housing, especially with the pricing limits of these units, which provide housing options in areas that are not expensive.

He explained that the solution to the previous challenges was the allocation of land for real estate developers and the ownership of units for residents without land ownership for the beneficiaries of government housing.

He said real estate developers had been confronted by government involvement in luxury housing, and at the moment had an opportunity to participate in social housing projects as well as middle-income housing projects.