The Housing Ministry released its annual housing bulletin for 2021/2022 which stated that a total of 70 projects were completed.
Government continues efforts to provide affordable housing for all Egyptians - File photo
Egypt's Housing Ministry has revealed that the number of completed projects aimed at developing informal settlements under the purview of the Egyptian Urban Development Fund (EUDF) increased significantly during the period from 2010 to 2021.
The Housing Ministry released its annual housing bulletin for 2021/2022 which stated that a total of 70 projects were completed, comprising 89,363 residential units and 2,448 commercial units.
According to the bulletin issued by the Central Agency for Public Mobilization and Statistics (CAPMAS), the total financial cost of the projects reached EGP 40.329 billion ($2.5 billion) over the period from 2010 to 2021.
The completed residential units were distributed across Egypt, with the highest number of units completed in Cairo (42,484), followed by Alexandria (30,577), and the lowest in Ismailia (20 units).
The total number of completed residential units in 2021/2022 reached 246,100 with investments amounting to EGP 143.5 billion ($9.1 billion), compared to 336,300 units in 2020/2021 with investments of EGP 150 billion ($9.6 billion).
The bulletin also showed that affordable housing projects ranked first in terms of the number of completed units, with 139,800 units accounting for 56.8% of the total, followed by middle-income housing with 69,800 units (28.4%), then luxury housing with 22,600 units (9.2%), and finally above middle-income housing with 13,800 units (5.6%) of the total in 2021/2022.
This significant increase in completed projects reflects the government's commitment to providing adequate and affordable housing for all Egyptians, with particular attention to informal settlements.
The EUDF's efforts have played a crucial role in providing basic services such as water, electricity, and sewage systems in these settlements.
