EGP 9 billion.. Investments in the 15th of May City

At the outset of his visit to the city today, Dr. Assem Al-Jazzar, Minister of Housing, Utilities and Urban Communities, held a meeting at the headquarters of the May 15th City Authority, to follow up the progress of work in various sectors in the city, and the position of the various development projects being implemented in the city, in the presence of officials of the ministry, the New Urban Communities Authority, and the President Executive of the Social Housing Fund and Real Estate Finance Support, and head of the May 15th City Authority.

Dr. Assem El-Gazzar confirmed that the volume of investments that were spent in May 15th City during the 9 years of President Abdel Fattah El-Sisi’s era, from 2014 until now, is equivalent to 5 and a half times what was spent during 36 years since the city’s establishment in 1978, until 2014, when the total Investments since 2014 have amounted to 8 billion and 953 million pounds, while the volume of investment in the city over the past 36 years has reached 1 billion and 631 million pounds.

Investments in May 15th City

The Minister of Housing stated that most of the investments in May 15th City, during the era of President Abdel Fattah El-Sisi, were directed to implement the units of the presidential initiative, “The housing of all Egyptians – the low-income axis.” Also, the city witnessed during the recent period a boom in the implementation of various investment projects through the private sector. The city's investment plan for the current fiscal year 2023/2024 exceeds EGP 980m.

The housing of all Egyptians

The minister directed attention to the points separating the areas of the units of the presidential initiative, “The housing of all Egyptians - the axis of low-income people,” which characterizes the 15th of May city, by cultivating it with appropriate types of crops, to be an outlet and a park for the city’s residents. He also directed to develop a plan to replace and renew drinking water networks. The old city, as part of the development plan being implemented in the city, and the construction of a water reservoir to solve the problem of water pressure in some high-rise residential areas.

Old residential areas

Dr. Assem El-Gazzar also directed to raise the efficiency of the old residential areas in May 15th City, and not to grant an operating license and conformity to any residential building or any other activity, except after finishing the facades of the building, in order to prevent distortion of urbanization in the city, and to preserve the urban character and aesthetic appearance. which is suitable for new cities.

The Minister of Housing listened to a detailed explanation from the head of the May 15th City Authority, about the work situation in the various sectors of the city (housing - drinking water - sanitation - roads - service projects - industrial areas, etc.), the position of the various development projects being implemented, and the available investment opportunities. in the city.