Chief Executive of the Social Housing and Mortgage Finance Fund, Mai Abdel Hamid, received on Wednesday Eritrean President Isaias Afwerki and his accompanying delegation during a visit to the “Housing for All Egyptians” presidential initiative in Capital Gardens City.
Abdel Hamid presented an overview of the programme, launched by President Abdel Fattah El-Sisi in 2014 with the goal of providing one million housing units for low-income citizens.
She said the initiative has since become one of Egypt’s most significant social protection programmes, with more than one million subsidised housing units built or offered to eligible beneficiaries.
She explained that beneficiaries receive a comprehensive support package covering between 50% and 60% of a unit’s total cost. Support includes direct financial subsidies, discounted land and infrastructure costs, and subsidised mortgage financing with repayment periods of up to 20 years.
Abdel Hamid said the programme has expanded access to home ownership for groups that previously faced challenges entering the housing market, including women, who account for 24% of beneficiaries, self-employed workers at 34%, and people with disabilities at 5%.
Beyond housing provision, the initiative has generated nearly four million jobs and involved 915 contracting companies in project implementation, she added.
She also highlighted the programme’s environmental sustainability efforts, noting that Egypt has launched the region’s first green affordable housing programme. More than 25,000 housing units have received Green Pyramid Rating System (GPRS) certification, while over 14,000 units have obtained international EDGE certification.
Abdel Hamid noted growing international interest in the initiative, which has attracted visits from regional and international delegations and received several awards for innovation, public policy and housing.
At the end of the visit, President Afwerki praised the programme’s role in providing affordable housing and instructed members of his delegation to closely study the Egyptian experience and identify aspects that could be adapted in Eritrea.
