Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, chaired the meeting of the Board of Directors of the Social Housing and Real Estate Finance Support Fund, where the executive position of the housing units for low and middle-income people, which was and is being implemented within the presidential initiative “Housing for All Egyptians,” was reviewed, and the current position of receiving requests from tenants to whom the old rental law applies, as well as a review of the annual achievements report of the Social Housing and Real Estate Finance Support Fund during the fiscal year. 2024/2025.
During the meeting, the implementation position of the units of the presidential initiative “Housing for All Egyptians” was reviewed. About one million and 2,100 housing units for low-income people have been implemented and are being implemented, and 37 thousand units are being offered, in addition to 28 thousand medium and investment housing units that have been implemented and are being implemented, and 54.6 thousand “green housing” units. Among the low-income units in the initiative, in addition to reviewing the position of delivering and allocating units to citizens and the units required to be implemented.
May Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, explained So far, 21 advertisements have been launched since June 1, 2014, and the volume of real estate financing granted to low-income beneficiaries has so far reached about 90 billion pounds, through 22 banks and 8 companies, and cash support has amounted to 10.35 billion pounds, and the number of low-income beneficiaries in units has reached 651,837 beneficiaries.
While the volume of real estate financing granted to middle-income beneficiaries has reached 4 billion pounds so far, from Through 10 banks and 4 financing companies, the number of middle-income beneficiaries reached 11,799 beneficiaries.
The meeting also reviewed the current situation in receiving requests from tenants subject to the old rental law, in addition to reviewing the annual achievements report of the Social Housing and Real Estate Finance Support Fund during the fiscal year 2024/2025, including the number of beneficiaries and the cash support granted to the beneficiaries, as the cash support during the last fiscal year amounted to 733 million pounds, bringing the value of the support granted. Since the beginning of the project, it has reached 10.3 billion pounds, and the number of beneficiaries has increased by about 69 thousand beneficiaries, bringing the total number of beneficiaries since the beginning of the project to 653 thousand beneficiaries.
The Fund has also achieved remarkable progress in implementing its strategic objectives of providing adequate housing for citizens, and stimulating the private sector to be a partner in implementing housing projects.
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