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Egypt to build affordable housing within two-and-a-half years

Staff writer ▼ | February 26, 2016
The president of Egypt, Abdel Fatah El-Sisi, said that 656,000 affordable housing units should be completed in the country within two-and-a-half years.
Abdel Fatah El-Sisi
Africa   President Abdel Fatah El-Sisi:
The statement was made at the opening of a conference on Egypt’s sustainable development strategy for 2030. The local daily Al Ahram reported that the new units are part of a plan launched in 2014 to deliver 1 million housing units by 2019.

Egyptians applying for the unit will benefit from cheap 20-year mortgages made available via loans from the Central Bank of Egypt. According to the country’s government, 103,000 units have been completed so far.