The Ministry of Housing signed an ongoing cooperation protocol with the Arab-Italian coalition for green building, Spark Concord for trading and construction and Master Com Holding Group, for establishing social housing units with the highest standards of quality and efficiency of green buildings in alliance and in cooperation with the Italian Schnell company with investments exceeding EGP 2.5bn.
Egyptian officials revealed that a press conference will be held soon, in which the details of the largest protocol in the field of housing and reconstruction will be revealed. The conference will also unveil a series of understandings and mega projects that will put Egypt ahead of attracting Italian investment.
The last four years have witnessed the implementation of housing projects with a total investment value of EGP 85bn, which included 270,000 social housing units, 21,000 middle-income housing units, 13,000 youth housing units, and investment units at a cost of EGP 23bn, according to Prime Minister and acting Minister of Housing Mostafa Madbouly.
During the inauguration of the sixth National Youth Conference on Saturday, Madbouly said that the government targets developing 930,000 units for social housing, 80,000 units are being completed within Dar Misr project, and 104,000 units will be implemented. Moreover, 50,800 units will be completed in Sakan Misr project, and 145,000 units will be implemented.