Prime Minister Mostafa Madbouly witnessed the signing of a series of agreements between the government and private property developers to build around 20,000 affordable housing units in eight new cities under the presidential initiative “Housing for All Egyptians”.
The agreements, signed at the government headquarters in the New Capital, follow directives of President Abdel Fattah El-Sisi during “Egypt Forum 2026” to expand private-sector participation in providing housing for low-income families.
The signing ceremony was attended by Housing Minister Randa El-Menshawy, senior government officials and representatives of the World Bank.
The agreements bring together the New Urban Communities Authority (NUCA), the Social Housing and Mortgage Finance Fund (SHMFF) and several private property developers.
Under the partnership model, 80 per cent of each project will be allocated to affordable housing units offered to eligible citizens at affordable prices and under conditions set by the fund.
The remaining 20 per cent will be allocated to residential or commercial units at prevailing market prices, allowing developers to generate returns and maintain the financial viability of their projects.
Developers will also receive land at preferential prices to reduce construction costs and encourage further private-sector investment in affordable housing.
Housing Minister El-Menshawy said the agreements mark a step towards expanding private-sector involvement in development projects while ensuring a sustainable supply of affordable homes.
She said the partnership model clearly defined the responsibilities of government bodies and private developers, combining the programme’s social objectives with the private sector’s expertise and efficiency.
SHMFF Chief Executive Mai Abdel Hamid said 104 property development companies had submitted 137 applications for 17 land plots offered during the programme’s first phase.
The projects are expected to deliver around 20,000 housing units across eight new cities.
Eligible homebuyers will have access to mortgage financing at a declining interest rate of 8 per cent, with repayment periods of up to 20 years, she added.
World Bank Regional Director Walid El-Atabani said the initiative forms part of a broader effort to improve access to housing finance for low-income households.
He said private-sector partnerships are a key component of the inclusive housing finance programme supported by the World Bank, which has provided $1 billion in financing since 2014.
