Egypt’s Construction & Design Company (Constec) has submitted a request to develop 30,000 housing units in the proposed New Capital City project.

A company spokesperson told MEED the firm has submitted a request to build the units part of the first phase of the scheme. “Constec submitted its plans to the Armed Forces Engineering Authority and we will now wait for approval before pressing ahead,” said the spokesperson.

Constec is a joint stock company that specialises in low-cost housing, although its current pipeline of work includes industrial, real estate and infrastructure projects.

In April, The Arab Union for New Urban Communities also submitted a request to Egypt’s Ministry of Housing, Utilities and Urban Development to build 30,000 residential units in the New Capital City.

The scheme is estimated to cost £E30bn ($3.8bn) and will be financed by private investors.

The Arab Union for New Urban Communities consists of 40 companies, most of which are Egyptian, with the rest made up of Saudi, UAE and Yemeni firms.

Housing is a major priority for the current government and, more recently, Cairo set aside £E13bn to build low-income houses that will help meet its target of developing up to 500,000 new homes annually.

The government also set a new timeline for the completion of public and middle-income housing units, according to a cabinet statement in April.

The statement went on to say the government has committed to delivering about 300,000 houses by the end of 2016.

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

The new time frame was announced amid criticism from the newly elected parliament regarding the housing ministry’s speed of delivery.

The government is hoping to attract additional funds from the private sector through revenue-sharing and other agreements.

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