Housing Fund: Creation of 221 thousand low-income units

Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, revealed that the Fund has succeeded in completing 640,000 housing units for low-income people, delivering 530,000 housing units, and 221,000 housing units are being constructed, as part of its implementation of the presidential program “Housing for All Egyptians.” “For low-income citizens.

Abdel Hamid reviewed the various initiatives that were launched in Egypt within the initiative to create one million housing units for low-income citizens within the presidential initiative “Housing for All Egyptians,” in cooperation with a number of government agencies such as the New Urban Communities Authority, the Central Bank of Egypt, and the Ministry of Finance. Such as the real estate financing initiative, which was launched by the Central Bank with reduced interest rates and appropriate repayment periods, as the total real estate financing granted to citizens amounted to more than 60 billion Egyptian pounds from 31 banks and real estate financing companies.

Housing financing

This came on the sidelines of the participation of Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, in the activities of the 39th annual conference of the African Union for Housing Finance, which was held in the Namibian capital, “Windhoek,” during the period from October 31 to November 2, 2023, under the title “Affordable Housing: Examples from the Continent,” on behalf of Dr. Assem El Gazzar, Minister of Housing, Utilities and Urban Communities.

Providing affordable housing

Mai Abdel Hamid’s participation witnessed intense activity, as she attended the ministerial round table, which was held on the sidelines of the conference, in the presence of the ministers of housing and finance, central bank governors, and senior officials in a number of African countries, with the aim of discussing the opportunities available in the field of housing within the African continent, and the possibility Exploiting it to provide affordable housing for African citizens, in addition to discussing ways of economic growth, through three consecutive discussion sessions, and this is the first time that this ministerial round table has been held on the sidelines of the conference activities.

On the first day of the conference, Mai Abdel Hamid, during a discussion session entitled “The Role of the State: Models from the African Continent,” presented the Egyptian experience aimed at providing one million housing units for low-income citizens within the presidential initiative “Housing for All Egyptians,” which is considered one of the pioneering experiences in Her field is in the African continent, stressing that Egypt seeks to transfer this experience to its brothers on the African continent.

Mai Abdel Hamid confirmed that the Social Housing and Real Estate Finance Support Fund launched the Green Architecture Initiative, in cooperation with the National Center for Housing and Building Research and the World Bank, with the aim of building 25,000 housing units using the Green Pyramid GPRS classification, which is the first initiative of its kind to be applied to residential units. Low-income citizens in Africa.

Green housing

She explained that this initiative helps reduce energy consumption by a rate ranging between 24-50%, reduce carbon emissions by a rate ranging between 33-39%, reduce water consumption by a rate of up to 40%, and reduce solid waste to 70%, noting that The Fund aims to gradually spread this initiative to all units that will be implemented in the future, until the units of the presidential initiative “Housing for All Egyptians” become environmentally friendly.

She pointed out the launch of the “Green Low-Cost Housing” competition, which aims to involve the private sector to come up with the best engineering design to build 25,000 environmentally friendly housing units, which will be implemented soon, explaining that the Fund is currently in the process of registering participants wishing to compete in the competition in accordance with according to the stated conditions.