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Egypt builds 194,200 housing units with EGP 79bn investments in FY 2019/20 - Daily News Egypt

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Egypt builds 194,200 housing units with EGP 79bn investments in FY 2019/20

Low-cost housing accounts for 56.2% of total units

Egypt established 194,200 housing units during fiscal year (FY) 2019/20, with a total investment of EGP 79bn, compared to 281,300 units in FY 2018/19, with investments of EGP 94.6bn, according to the Central Agency for Public Mobilization and Statistics.

According to the agency housing bulletin issued on Monday, the low-cost housing accounted for 56.2% of the total units, amounting to 109,100 units. The medium-cost housing reached 64,400 units, or 33.1%, while the above-medium housing recorded 12,900 units, or 6.7%. The luxury housing amounted to 7,800 units, representing 4% of the total units established in FY 2019/20.

The public and public business sector implemented 85,000 units, accounting for 43.7% of the total units in FY 2019/20, compared to 100,500 units in 2018/19, a decrease of 15.5%.

About 71.4% of public housing was low-cost, reaching 60,700, followed by medium-cost housing with 17,700 units, or 20.9%, then above-medium housing with 1,100 units, or 1.2%, and luxury housing with 5,500 units, or 6.5%.

With regard to the distribution of housing units, Cairo came first with 32,200 units, or 38%, followed by Giza with 22,800 units, or 26.8%, while the New Valley governorate came in last place with 48 units, or 0.06%.

Meanwhile, the private sector implemented 109,300 residential units, accounting for 56.3% of the total units during FY 2019/20, compared to 180,800 units in FY 2018/19, a decline of 39.6%.

In this sector, low-cost housing ranked first with 48,400 units, or 44.3%, followed by medium-cost housing with 46,700 units, or 42.7%, then above-medium housing with 11,900 units, or 10.9%, and luxury housing with 2,300 units, or 2.1%.

With regard to the distribution of the private sector housing units, Menoufiya governorate ranked first with 15,900 units, or 14.5%, followed by Cairo with 12,800 units, or 11.7%, while Beheira governorate came in last place with 274 units, or 0.3%.

Regarding the social housing project, 375,200 housing units have been implemented so far, of which 51,200 units were implemented in FY 2019/20. Moreover, the Central Agency for Reconstruction, affiliated to the Ministry of Housing, Utilities, and Urban Communities, implemented 1,400 units, with investments of EGP 150.4m.

In addition, housing directorates implemented 6,000 units, or 11.8%, with investments of EGP 3bn. The New Urban Communities Authority implemented 43,800 units, or 85.6%, with investments of EGP 19.1bn.

Regarding the Dar Misr project, 43,000 units have been implemented in new cities so far, of which 14,600 units were completed in FY 2019/20. New Cairo accounted for 45.8 %, with 6,672 units, while Badr City accounted for 3.3%, with 480 units.

The Sakan Misr project, the number of implemented units reached 5,820 units, of which 3,144 units in FY 2019/20. West Assiut accounts for 45.8%, with 1,440 units, while the least number of units was in Badr City, amounting to 408 units, or 13%.

As for the Gannah Misr, the number of implemented units in the project reached 5,904 units in new cities, of which 5,544 units were implemented during FY 2019/20. The largest number of units was implemented in 6th of October City, reaching 2,760 units, and the lowest number of units was in Shorouk City, reaching 360 units.

Topics: housing units

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