Egypt has constructed 1.5 million housing units to address the housing shortage for 7.5 million citizens within a decade, according to Prime Minister Mostafa Madbouly.
Within this relatively short timeframe, Egypt has completed, delivered, and is in the process of finishing more than 1.5 million housing units. Approximately 85% to 90% of these units were specifically designed as social housing for youth and low-income individuals, as well as alternative housing for slum areas considered unsafe.
Madbouly emphasized that executing this ambitious project effectively addresses the housing needs of approximately 6 to 7.5 million Egyptian citizens, assuming an average family size of 4 to 5 individuals. This achievement stands in stark contrast to the slower pace of housing development observed over the previous 36 years.
The housing issue has been a critical challenge for the Egyptian state, and securing a housing unit has been a dream for many young people. Madbouly highlighted the city of Capital Gardens as a notable example. As one of the fourth-generation cities, it boasts convenient public transportation from its inception. The light electric train serves residents, allowing easy travel to various destinations within Greater Cairo.
Looking ahead, Madbouly has directed the Minister of Housing and the head of the Social Housing and Mortgage Finance Fund to focus on expanding similar housing projects within Capital Gardens. The city currently comprises 100,000 housing units, with 93,000 designated for social housing, youth, and low-income individuals, while the remaining 7,000 units cater to middle-income households.
Notably, all housing units in the Capital Gardens project have already been sold, indicating strong interest among the youth to move away from densely populated areas in central Cairo to more livable environments.
Despite the high market value of such housing units, the state provides substantial support through cash assistance and extended financing periods, ensuring affordability for citizens. Additionally, Capital Gardens features partnership projects with the private sector, including one of the largest ongoing developments nationwide.
