Cairo announces $1.8bn housing scheme

22 August 2016

Egypt has announced another ambitious plan to develop 116,000 low-income housing units west of Cairo

Egypt’s New Urban Communities Authority (NUCA) is planning to develop 116,000 low-income housing units in the Sixth of October City, Minister of Housing Mostafa Madbouly told reporters at a press conference in Cairo.

The project is set to cost up to $1.8bn, said Madbouly.

In a statement to the press, Madbouly also added that the project includes four schools, four healthcare units, a conference hall as well as a mosque and church.

A number of main roads in the city are also being developed, including the Bahariya Oasis road and South Dahshour road.

It is unclear how this project will be funded with the state budget for housing projects unlikely to cover the entire cost of the scheme.

Earlier this year the housing ministry said it was preparing to work with the finance ministry to launch public private partnership (PPP) tenders in order to bring the private sector.

The government has committed to delivering about 300,000 units by the end of 2016.

Cairo also plans to deliver about 750,000 housing units by the end of 2018, in addition to the 135,000 units for those currently living in informal housing. 

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.