Egypt Announces Developer Partnership to Build 20,000 Housing Units

Egypt’s Social Housing and Mortgage Finance Fund has announced the launch of its first partnership project with real estate developers to build 20,000 housing units.

Mai Abdel Hamid, the fund’s chief executive, announced the project in the presence of Prime Minister Mostafa Madbouly.

The initiative brings private real estate developers into a partnership with the fund to deliver the new homes. Abdel Hamid described it as the fund’s first project under this partnership model.

The announcement set out the planned number of units but did not specify their locations, prices or construction timetable. Details of eligibility requirements and how prospective buyers can apply were also not provided.