Egypt’s low-income housing program offers affordable residential units to financially challenged Egyptians, and the project is expanding in 2024, opening up in 14 more cities in Egypt. Founded in 2018, the Social Housing and Mortgage Finance Fund (SHMFF), is a governmental entity of the Ministry of Housing, Utilities & Urban Communities (MHUC), which provides affordable residential for low and middle-income Egyptians, with a variety of tenure, housing types, and locations. The SHMFF’s housing units are located in El Shorouk City, October Gardens City, New October City, New Damietta City, and New Cairo City. In 2024, the project will expand all over Egypt, offering new, fully finished units in New October City, 15th of May City, New Cairo City, Badr City, Capital Gardens City, Sadat City, and various other new cities. The affordable residential units are constructed in areas that, while sometimes remote, have basic infrastructure such as access to water, plumbing, electricity, and drivable roads The units range in size from 75 to 90 square meters and are delivered upon completion. Social housing prices for the year 2024 range from EGP 184,000 (USD 3,882) to EGP 400,000 (USD 8,439) per…
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Source: egyptianstreets
